Stocks

RInfra shares fall 0.5%

BL Internet Desk | Updated on August 30, 2018 Published on August 30, 2018

Shares of Reliance Infrastructure were trading down 0.52 per cent at Rs 436.50 on the BSE. After opening higher at Rs 443.70 against the previous close of Rs 438.80, the stock touched intraday high of Rs 444.75 and a low of Rs 434.60.

On Wednesday, the company had completed the ₹18,800-crore deal for the sale of its Mumbai energy business to Adani Transmission. This will help RInfra pare its debt to ₹7,500 crore from ₹22,000 crore. Its chairman Anil Ambani announced the culmination of the deal which was struck in December last year.

Last week, RInfra had defaulted on payment of redemption of NCDs amounting to ₹133.38 crore but expects to settle it from the proceeds of this deal.

Published on August 30, 2018
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