India's Reliance Infrastructure at 5-year high on settlement with ICICI Bank

Reliance Infrastructure

18/03/2024 08:29

** Shares of Reliance Infrastructure  RLIN.NS  rise as much
as 10.5% to 262.5 rupees, last up 9.5%
    ** Stock of engineering and construction co hits highest
level since February 1, 2019
    ** RLIN on Saturday, along with Reliance Power signed a
settlement agreement with ICICI Bank  ICBK.NS 
    ** Entire obligation in terms of borrowings of Reliance
Power with ICICI Bank settled; any potential obligation of co
with respect to corporate guarantee extinguished - RLIN said in
an exchange filing
    ** More than 15.5 mln shares change hands; most active
trading session since July 21, 2023
    ** RLIN has gained for three consecutive years since 2021


 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))