Reliance Infrastructure wins arbitration award against DMRC; stock hits 5% upper circuit

The proceeds from the arbitral award to be utilized for debt reduction, Reliance Infra said in the filing.

Sep 13, 2021 01:09 IST India Infoline News Service

Reliance Infrastructure
Shares of Reliance Infrastructure (RInfra) hit 5% upper circuit at Rs77.85 on the BSE.  In the regulatory filing, the Supreme Court upheld the arbitral award in favour of Reliance Infrastructure Limited’s subsidiary DAMEPL.

Delhi Metro Rail Corporation is directed to pay damages of Rs2,950cr plus interest upto the date of payment to DAMEPL. The proceeds from the arbitral award to be utilized for debt reduction, Reliance Infra said in the filing.

The stock is currently trading at Rs77.85 up by Rs3.7 or 4.99% from its previous closing of Rs74.15 on the BSE. The scrip opened at Rs77.85 and has touched a high and low of Rs77.85 and Rs77.85 respectively.

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