Reliance Infrastructure rose 3.40% to Rs 437.55 at 10:18 IST on BSE after the company said it set up three wholly-owned subsidiaries to pursue growth opportunities in the defence sector.
The announcement was made during trading hours today, 12 February 2015.
Meanwhile, the BSE Sensex was down 63.79 points, or 0.22%, to 28,470.18.
On BSE, so far 3.03 lakh shares were traded in the counter, compared with an average volume of 4.02 lakh shares in the past one quarter.
The stock hit a high of Rs 442.25 and a low of Rs 425.65 so far during the day. The stock hit a 52-week high of Rs 820 on 10 June 2014. The stock hit a 52-week low of Rs 351.55 on 17 February 2014.
The stock had underperformed the market over the past one month till 11 February 2015, falling 12.78% compared with 3.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 34.23% as against Sensex's 2.24% rise.
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The large-cap company has an equity capital of Rs 262.99 crore. Face value per share is Rs 10.
Reliance Infrastructure (RInfra) has set up three wholly owned subsidiaries, Reliance Defence Systems, Reliance Defence Technologies and Reliance Defence and Aerospace to pursue growth opportunities in the defence sector.
RInfra will announce Q3 results on Saturday, 14 February 2015. On a consolidated basis, RInfra reported 1.07% rise in net profit to Rs 431.19 crore on 14.91% fall in total income to Rs 4487.08 crore in Q2 September 2014 over Q2 September 2013.
Towards the end of the Q2 September 2013, the Parent company had diluted its holding in SU Toll Road, TD Toll Road and TK Toll Road each from 100% to 49% and in the two joint ventures, BSES Rajdhani Power and BSES Yamuna Power from 49% to 28.82%. In view of above dilution, the figures of the quarter ended 30 September 2014 and half year ended 30 September 2014 are not comparable with the figures for the corresponding quarter and half year respectively, Reliance Infrastructure said.
RInfra is amongst the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors within the infrastructure space i.e. roads, metro rail and cement. RInfra is also the leading utility company having presence across the value chain of power businesses i.e. generation, transmission, distribution, power trading. The company also provides engineering, procurement and construction (EPC) services for developing power and road projects.
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