Share of Reliance Infra has delivered more than 200 per cent returns to its shareholders in the last six months. The share stood at Rs 22.85 on December 4, 2020. It has zoomed to Rs 70.5 today, translating into gains of 208.5 per cent during the period. In comparison, Sensex rose 15.5 per cent in the last 6 months.
The stock has gained 265 per cent in the last 12 month and risen 160 per cent since the beginning of this year. It ended 4.64 per cent higher at Rs 69.85 against the previous close of Rs 66.75 on BSE.
The share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200-day moving averages. Market cap of the firm rose to Rs 1,836.99 crore on BSE.
The share touched a 52-week high of Rs 71.60 on May 28, 2021, and a 52-week low of Rs 18.20 on June 04, 2020. Currently, it is trading 287 per cent above its 52-week low and 1.53 per cent below its 52-week high.
Recently, the company informed that a meeting of the Board of Directors of the company will be held on Sunday, June 6, 2021, to consider and approve raising of long term resources from domestic and/or global markets
The fundraising would be done through issue of equity shares, equity linked securities, warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method including determination of issue price.
The company reported a net loss of Rs 46.53 crore in Q4FY21, against a loss of Rs 153.84 crore in Q4FY20. Revenue from operations jumped to Rs 4,178.89 crore from Rs 3,625.51 crore in the year-ago period.
In April 2021, the power generation and infrastructure firm sold Reliance Center, the Mumbai headquarter of Anil Ambani's Reliance Group, to YES Bank for Rs 1,200 crore.
Reliance Infrastructure in an exchange filing said that entire proceeds from the sale of Reliance Centre, Santacruz will be utilised only to repay the debt of YES Bank.
"Reliance Infrastructure Limited (RInfra) and YES Bank Limited (YES Bank) announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank. The transaction value is Rs.1200 crore," it added.
Reliance Infrastructure has sold as many as three major assets, including this one, since January 2021. The other two include Delhi-Agra toll road to Cube Highways and Infrastructure for Rs 3,600 crore and 74 per cent equity shares in Parbati Koldam Transmission Company to India Grid Trust for an enterprise value of Rs 900 crore.
The company aims to become debt-free by the end of the financial year 2022.
RInfra is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads, and metro rail in the infrastructure space and defense.
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