India's Reliance Infra gains on favourable tribunal order

IDBI Bank

15/04/2024 09:31

** Shares of Reliance Infrastructure  RLIN.NS  up 3.3% at
204.25 rupees
    ** Engineering and construction firm said National Company
Law Tribunal (NCLT) disposed off bankruptcy petitions against
its Mumbai Metro One JV by SBI  SBI.NS  and IDBI Bank  IDBI.NS  
    ** Reliance Infra on track to snap 4-day losing streak in
which it shed ~34%
    ** Stock now down 2.7% YTD after three years of gains
    ** Trading volume on the day is 1.4x its 30-day moving avg  
 

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))