India's Reliance Infrastructure surges on debt reduction

Reliance Infrastructure

18/09/2024 11:12

** Shares of Reliance Infrastructure  RLIN.NS  settle 20%
higher at 282.73 rupees, marking its best day in two years
    ** Engineering and construction firm said it reduced its
standalone external debt to 4.75 billion rupees ($56.8 million)
from 38.31 billion rupees
    ** RLIN hits its highest level since early April
    ** Stock rises for a third straight session, gaining 33% in
the period
    ** More than 52 mln shares traded, 5x their 30-day avg
    ** RLIN up 12% YTD


($1 = 83.6850 Indian rupees)

 (Reporting by Vijay Vaidyanathan)
 ((VijayKishore.Vaidyanathan@thomsonreuters.com;))