RInfra Surges Nearly 4% On Rs. 1,000-Cr EPC Contract

RInfra Surges Nearly 4% On Rs. 1,000-Cr EPC Contract

Shares of Reliance Infrastructure gained nearly 4 per cent on Thursday as the company has won a Rs. 1,000-crore order from Nuclear Power Corporation of India (NPCI) after it emerged as the lowest bidder for an engineering and construction contract for the Kudankulam plant.

RInfra, a part of Anil Ambani-led Reliance Group, has bagged an EPC contract for units 3 and 4 of Kudankulam Nuclear Power Project (KNPP) in Tamil Nadu, built by Nuclear Power Corporation and Russian State-owned atomic energy corporation Rosatom.

RInfra emerged L1 amidst competition from India’s largest EPC players in the power sector, including Larsen & Toubro, Tata Projects, BGR and BHEL. According to one of the sources, RInfra’s bid at ₹1,000 crore, lower than BHEL’s ₹1,032 crore, L&T at around ₹1,100 crore and Tata Projects’ ₹1,200 crore.

Following a positive open at Rs. 460 against the previous close of Rs. 453.15, the scrip touched an intraday high of Rs.470.70 and a low of Rs. 455 on the BSE. In terms of equity volume, 2.69 lakh shares were traded on the BSE. The stock closed higher by 3.42 per cent at Rs. 468.65. Read More…

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