Reliance Power: Explosive move ahead

Reliance Power Ltd after a long consolidation broke out, of its range yesterday and is now ready to steam ahead. Among the triggers the most important are its spectacular Q2FY13 results and its commissioning of the 1st phase of 4,000-mw Sasan ultra-mega power project in Madhya Pradesh in next month. 

Also, Reliance Power Ltd has received Stage-1, forest clearance for Chhatrasal coal bock, the third mine allotted for captive use of the 4,000-mw Sasan ultra-mega power project. The block was allotted to the Sasan project in 2006. It is estimated to have coal reserves of about 160 million tonne and a peak production capacity of 5 million tonne per annum. The Sasan project has been allotted two other captive mines, Moher and Moher Amlohri extension. The company has started mining in these blocks. There is an old report on my other blog: CLICK HERE. The scrip should cross Rs.100, within a couple of days and close above it.