RPower promoter group entity transfers shares worth Rs 288 cr

Reliance Infradevelopment, a promoter group entity of Reliance Power, today transferred shares worth Rs 288 crore in the company to a group entity.
The shares were bought by Reliance Wind Turbine Installators Industries.
As per the bulk deal data available on BSE, Reliance Infradevelopment sold six crore shares or 2.13 per cent stake, at an average price of Rs 48.1. This translates to Rs 288.60 crore.
Shares of Reliance Power closed marginally down at Rs 48 on the BSE. After opening at Rs 48.45, the scrip had touched a high an intra-day high of Rs 48.50.
Reliance Power is part of the Anil Ambani-led Reliance group, which has presence in diverse sectors including telecommunications and financial services.