Shares of Reliance Infra fall 20%, hit lower circuit, know full story – India TV Hindi

The company's market valuation fell by Rs 2,250.02 crore to Rs 9,008.02 crore.- India TV Paisa

Photo: Reuters The company’s market valuation fell by Rs 2,250.02 crore to Rs 9,008.02 crore.

Shares of Reliance Infrastructure took a big hit on Wednesday. The company’s stock price fell by 20 percent and closed at Rs 227.60 at the end of the trading session on April 10, 2024. In a major relief to the DMRC, the Supreme Court set aside its own judgment and said the PSU firm will have to pay more than Rs 8,000 crore to the firm’s subsidiary, Delhi Airport Metro Express Private Limited. PTI reported.

How much did the company’s stock fall?

According to the news, the stock closed at Rs 227.40, down 19.99% on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), it fell 20 percent to the day’s lowest trading limit of Rs 227.60. The company’s market valuation fell by Rs 2,250.02 crore to Rs 9,008.02 crore. Allowing Delhi Metro Rail Corporation’s (DMRC) plea against the 2021 decision, a special bench headed by Chief Justice DY Chandrachud said the Supreme Court erred in setting aside the Delhi High Court’s decision. .

Deposit will be refunded.

A division bench of the Delhi High Court had in 2019 set aside the arbitration award granted against the DMRC. Setting aside the judgment of the Delhi High Court, this Court (SC) restored a manifestly illegal award which exposed a public utility to excessive liability, the bench said. The judgment said that the amount so far deposited by the DMRC would be refunded and the parties would be restored to the same position they were in on the date of pronouncement of the judgment of the Delhi High Court.

What did Reliance Infrastructure Limited say?

Anil Ambani’s Reliance Infrastructure Ltd said it is not liable for the Supreme Court’s order that set aside the Rs 8,000 crore arbitration award in favor of Delhi Airport Metro Express Private Limited (DAMEPL). Is. Reliance Infrastructure wishes to clarify that the order passed by the Supreme Court on April 10, 2024 does not impose any liability on the company and the company has not received any amount from DMRC/DAMEPL under the arbitration award, the company said. .

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