Thursday, July 24, 2008

Power-Packed Recovery: Rpower Up 43% From Recent Low - July 24, 2008

Meanwhile, the BSE Sensex was up 52.89 points, or 0.32%, to 14,990.80, as oil prices dropped sharply on Wednesday, 23 July 2008, after the US government data showed a big increase in US inventories of gasoline.

On BSE, 57.18 lakh shares were traded in the counter. The scrip had an average daily volume of 34.83 lakh shares in the past one quarter.

The stock hit a high of Rs 189.70 and a low of Rs 173.60 so far during the day. The stock had a 52-week high of Rs 374.94 on 11 February 2008 and a 52-week low of Rs 116.30 on 2 July 2008.

The large-cap company had outperformed the market over the past one month till 23 July 2008, gaining 11.91% compared to the Sensex’s return of 5.92%. It had however underperformed the market in the past one quarter, declining 29.41% compared to Sensex’s decline of 10.64%.

From a recent low of Rs 128.10 on 16 July 2008 the stock rose 43.09% to Rs 183.30 today, 24 July 2008. The stock jumped 19.75% to Rs 170.95 in yesterday (23 July 2008)’s market rally.
The company has an equity capital of Rs 2,396.80 crore. Face value per share is Rs 10.

The proposed manufacturing unit would involve a total investment of about $3 billion and is proposed to be in place by 2010, the reports added.

Reliance Power is developing 13 power generation projects with a capacity of 28,200 megawatt (MW).

Reliance Power reported net profit of Rs 94.67 crore on total income of Rs 132.87 crore in the year ended March 2008.

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