RPower: The recent drop followed the Enforcement Directorate's (ED's) filing of a supplementary prosecution complaint in a case linked to the SECI bank guarantee.
RPower's subsidiary, Reliance Nu Energies, on Tuesday received a Letter of Award (LoA) from SJVN Ltd for the largest allocation in the 1,500 MW/6,000 MWh FDRE ISTS tender issued by the Navratna enterprise.
In an exchange filing, the company said, "Reliance Power wishes to clarify that Amar Nath Dutta is in no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees or any other stakeholders."
The stock has now dropped 12.88 per cent over two trading days, following the Enforcement Directorate's (ED) announcement of a provisional attachment of assets allegedly linked to the Anil Ambani Group under the Prevention of Money Laundering Act (PMLA).
Suzlon Energy, which has 55,69,839 retail investors as of latest disclosures, declined 22 per cent in Samvat 2081. Tata Power has lost 10 per cent while JIO Financial Services Ltd declined 5 per cent in the Hindu calendar.
Religare has assigned a 'Buy' rating on RIL, with a target price of Rs 1,600, implying a potential upside of 16.4 per cent.
Reliance Power: The Reliance Power stock fell 11.42 per cent to open at Rs 43.05 apiece on BSE. It has lost 33 per cent of its market value in the past three months.
Reliance Infrastructure hit its 5 per cent upper circuit limit at Rs 241, while Reliance Power climbed 14.06 per cent to Rs 50.70. There were no exchange announcements explaining the sharp rally.
Reliance Power said it received a show cause notice from SEBI in relation to Reliance Infrastructure Limited’s exposure in CLE Private Limited, for alleged violations, saying it has nil exposure to CLE Private Limited.
JM Financial maintained its Buy rating Tata Power and JSW Energy both companies, with a target price of Rs 726 for JSW Energy and Rs 436 for Tata Power.
Reliance Power shares gained 2.77% in early deals today to Rs 46 against the previous close of Rs 44.76 on BSE.





