Reliance Infrastructure rose 0.59% to Rs 598.70 at 11:29 IST on BSE after the company's board of directors approved to amend the Object Clause of the Memorandum of Association of the company to include new activities.
The announcement was made after market hours yesterday, 19 September 2016.Meanwhile, the S&P BSE Sensex was down 113.15 points, or 0.4%, to 28,521.35
On BSE, so far 1.85 lakh shares were traded in the counter, compared with average daily volume of 4.27 lakh shares in the past one quarter. The stock hit a high of Rs 605.80 and a low of Rs 597.05 so far during the day. The stock hit a 52-week high of Rs 635.35 on 9 September 2016. The stock hit a 52-week low of Rs 322 on 23 September 2015. The stock had underperformed the market over the past 30 days till 19 September 2016, rising 0.21% compared with Sensex's 1.99% rise. The scrip, however, outperformed the market in past one quarter, rising 9.58% as against Sensex's 6.79% rise.
The large-cap company has equity capital of Rs 262.99 crore. Face value per share is Rs 10.
Reliance Infrastructure (RInfra) announced that the board of directors of the company approved to amend the Object Clause of the Memorandum of Association of the company to include new activities relating to setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds and defence business.
Reliance Infrastructure's consolidated net profit rose 7.22% to Rs 438.80 crore on 2.58% rise in net sales to Rs 7032.83 crore in Q1 June 2016 over Q1 June 2015.
RInfra is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.
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