Reliance Power ends trading day with marginal gain

February 18th, 2008 - 8:29 pm ICT by admin  

Mumbai, Feb 18 (IANS) Reliance Power Ltd’s (RPL) announcement that it would consider issuing bonus shares failed to raise investor sentiment and its stock prices closed the day with a marginal gain of Rs.28.95 at Rs.413.65, still trading below its issue price of Rs.450. The scrip, which closed Friday at Rs.384.70, opened Monday at Rs.418.65, notching a gain of Rs.33.95.

During the day, RPL touched a high of Rs.429.60 and a low of Rs.410.10. It closed the day at Rs.413.65 with a gain of Rs.28.95 compared to its close Friday.

On the day of its listing Feb 11, it had briefly touched a high of Rs.599. It touched last week’s low of Rs.332 Feb 13.

RPL’s initial public offer had attracted more than five million bids from all categories of domestic and international investors with aggregate commitment of over Rs.7.5 trillion ($189 billion) against the issue size of Rs.115.60 billion ($2.91 billion).

The company is currently developing 12 power projects in the country with a total planned installed capacity of 28,000 MW. This is among the largest portfolios of power generation assets under development.

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