Powerless listing day for Reliance Power
Reliance Power, Anil Dhirubhai Ambani Group Company, has touched a low of Rs 355.30 before closing the day at Rs 372.30, down 17.27% to its issue price of Rs 450 on the NSE. It has opened at Rs 430 and jumped to a high of Rs 530 but immediately drifted below issue price on the back of huge selling pressure in the stock as well as across the market due to weak sentiment. The stock was remained below issue price through the day. It has tried to hold above Rs 400 but could not make it.
The traded turnover for the day was at Rs 5,601 crore and traded volumes were Rs 13,43,61,415 shares on the NSE.
On the BSE, the share opened at Rs 547.80, touched a high/low of Rs 599.90 and Rs 355.05, respectively. Reliance Power closed at Rs 372.50, with volumes of 6,38,82,239 shares.
It has added 48.15 lakh shares in Open Interest. Volumes were relatively low in F&O segment. 400 Put and 450 Call witnessed maximum action.
The company had entered capital market with public issue of 26 crore equity shares of Rs 10 each. Reliance Power IPO was oversubscribed approximately 70 times.
Reliance Power is the flagship company of the Reliance ADA Group to develop, construct and operate power generation projects. The company is currently developing 12 power projects with a combined planned installed capacity of 28,000 MW, one of the largest portfolios of power generation assets under developments
Source: Moneycontrol.com
Monday, February 11, 2008
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