Reliance Power gains on executing agreements for $1 billion power project in Bangladesh

01 Dec 2017 Evaluate

Reliance Power is currently trading at Rs. 38.45, up by 0.40 points or 1.05% from its previous closing of Rs. 38.05 on the BSE.

The scrip opened at Rs. 38.25 and has touched a high and low of Rs. 38.65 and Rs. 38.20 respectively. So far 92474 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 50.80 on 05-Apr-2017 and a 52 week low of Rs. 34.65 on 15-Nov-2017.

Last one week high and low of the scrip stood at Rs. 39.40 and Rs. 37.90 respectively. The current market cap of the company is Rs. 10729.61 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 11.03% and 13.96% respectively.

Reliance Power has completed execution of project agreements for Phase - I of its project in Bangladesh. The first Phase of Reliance Power’s integrated project consists of 750 MW Combined Cycle Gas Based Power Plant to be set up at Meghnaghat near Dhaka (Power Project) and 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh (LNG Terminal Project).

The terminal use agreement for LNG Terminal Project was initialed with PetroBangla, a Government of Bangladesh entity. The project agreements for Power Project have already been executed with Bangladesh Power Development Board (BPDB). The integrated project entails an investment outlay of over $1 billion, which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in Bangladesh’s energy sector.

Reliance Power will relocate one module of world-class equipment procured from internationally reputed original equipment manufacturers for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, India for the Phase-1 project in Bangladesh.

Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating capacity of 5,945 megawatts.

Reliance Power Share Price

34.40 -1.33 (-3.72%)
21-Nov-2024 16:59 View Price Chart
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