Anil Ambani's Reliance Power shares hit 52-week low after suffering massive loss in Q4
While the Indian benchmarks, Sensex and Nifty, witnessed positive trade on Monday, Reliance Power shares declined as much as 23.66 per cent and hit a new low of Rs 4.71 on the BSE
- Jun 10, 2019,
- Updated Jun 10, 2019 5:44 PM IST
Shares of Anil Ambani-led Reliance ADAG Group companies were under heavy selling pressure on Monday, in otherwise strong market, with Reliance Power hitting 52-week low in intra-day trade after the power generation company reported a net loss of Rs 3,575.38 crore in the March quarter.
While the Indian benchmarks, Sensex and Nifty, witnessed positive trade on Monday, Reliance Power shares declined as much as 23.66 per cent and hit a new low of Rs 4.71 on the Bombay Stock Exchange. Paring some of early losses, the stock closed trade at Rs 5.75 apiece, down 6.81 per cent.
On the National Stock Exchange, the Reliance Power share price settled 8.13 per cent lower at Rs 5.65 apiece. During the day's trade, the stock touched a fresh 52-week low of Rs 4.85 after making a negative opening at Rs 5.55.
Reliance Power (RPower) on Saturday reported a net loss of Rs 2,951.82 crore for the financial year 2018-19 as against net profit of Rs 840.46 crore in FY18. Total income during the fiscal declined to Rs 8,534.26 crore from Rs 9,871.01 crore a year earlier.
Shares of Anil Ambani-led Reliance ADAG Group companies were under heavy selling pressure on Monday, in otherwise strong market, with Reliance Power hitting 52-week low in intra-day trade after the power generation company reported a net loss of Rs 3,575.38 crore in the March quarter.
While the Indian benchmarks, Sensex and Nifty, witnessed positive trade on Monday, Reliance Power shares declined as much as 23.66 per cent and hit a new low of Rs 4.71 on the Bombay Stock Exchange. Paring some of early losses, the stock closed trade at Rs 5.75 apiece, down 6.81 per cent.
On the National Stock Exchange, the Reliance Power share price settled 8.13 per cent lower at Rs 5.65 apiece. During the day's trade, the stock touched a fresh 52-week low of Rs 4.85 after making a negative opening at Rs 5.55.
Reliance Power (RPower) on Saturday reported a net loss of Rs 2,951.82 crore for the financial year 2018-19 as against net profit of Rs 840.46 crore in FY18. Total income during the fiscal declined to Rs 8,534.26 crore from Rs 9,871.01 crore a year earlier.