Monday, September 17, 2012

RPower surges as Sasan power plant gets connected to the grid
Reliance Power jumped 6.55% to Rs 87.05 on BSE after the company announced the commissioning of the 400 kilovolts switchyard at the Sasan Ultra Mega Power Plant.
The company made this announcement during trading hours today, 17 September 2012.
Meanwhile, the BSE Sensex was up 78.84 points or 0.43% to 18,543.11.
On BSE, 20.50 lakh shares were traded in the counter as against average daily volume of 13.56 lakh shares in the past one quarter.
The stock hit a high of Rs 87.60 and a low of Rs 83 so far during the day. The stock had hit a 52-week high of Rs 139.40 on 6 March 2012. The stock had hit a record low of Rs 68.50 on 21 December 2011.
The stock had underperformed the market over the past one month till 14 September 2012, declining 12.2% compared with the Sensex's 4.15% gain. The scrip had also underperformed the market in past one quarter, sliding 15.07% as against Sensex's 10.71% surge.
The large-cap power generation company has equity capital of Rs 2805.13 crore. Face value per share is Rs 10.
Reliance Power said that with the commissioning of 400 kilovolts (kV) switchyard at the Sasan Ultra Mega Power Plant (UMPP), the 3,960 megawatts (MW) UMPP is now connected to the national grid. The project is now ready to draw power from the grid to provide start-up power for the first 660 MW unit which is nearing completion, five months ahead of the scheduled date of commissioning, the company said. The same switchyard would enable evacuation of the power to seven states which would be using power from the Sasan UMPP, Reliance Power said.
Reliance Power early this month said the coal production has begun from the 20 million tonnes Moher and Moher-Amlohri coal mines. Sasan UMPP thus has both the fuel as well as the off-take systems in place for its commissioning ahead of schedule, the company said in a statement.
On a consolidated basis, Reliance Power's net profit rose 22.1% to Rs 239.50 crore on 109.6% growth in net sales to Rs 1135.75 crore in Q1 June 2012 over Q1 June 2011.
Reliance Power, a part of Reliance group, is India's leading private sector power generation company. The company has the largest portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy, with an operating portfolio of 1,540 MW. The company also has the largest captive coal reserves in the private sector, estimated at two billion tonnes. Besides, the company is developing three coal mines in Indonesia and also developing coal bed methane based generation capacity.
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