Reliance Power share price locked in lower circuit despite rating upgrades


Reliance Power share price locked in lower circuit despite rating upgrades

Reliance Power share price was locked in 5 percent lower circuit despite rating upgrades from ICRA. ICRA upgraded the long-term rating and short-term rating of Rosa Power Supply Company (RPSCL), a wholly owned subsidiary of Reliance Power, to ICRA B+ with stable outlook and ICRA A4 from ICRA D, respectively.

The rating upgrade was done citing regularisation of debt servicing year by RPSCL, track record of the plant operations and the adequate coal availability. There were pending sell orders of 2,561,339 shares, with no buyers available. Read More

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