Reliance Infrastructure lost 0.67% to Rs 387.15 at 9:18 IST on BSE, with the stock sliding on profit booking after the company said that its special purpose vehicle -- Mumbai Metro One -- has successfully conducted Mumbai Metro's first trial run.
The company made the announcement after market hours on Thursday, 2 May 2013.
Meanwhile, the S&P BSE Sensex was down 61.98 points or 0.31% at 19,673.79.
On BSE, 11,000 shares were traded in the counter as against average daily volume of 7.52 lakh shares in the past two weeks.
The stock hit a high of Rs 390.60 and a low of Rs 387 so far during the day.
Shares of Reliance Infrastructure (RInfra) had risen 3.93% to settle at Rs 389.75 on Thursday, 2 May 2013.
RInfra said that the Mumbai Metro project is at the advance stage of completion and metro is expected to commence commercial operation by the end of this year. Mumbai Metro One (MMOPL) is a special purpose vehicle (SPV) created to develop, implement and operate Mumbai's first Metro Line, on a public-private-partnership (PPP) model. It is a consortium formed by RInfra, MMRDA and Veolia Transport SA of France. The project was awarded to MMOPL for the concession period of 35 years. Mumbai Metro corridor is 11.40 km long, providing connectivity from Versova (Western Mumbai) to Ghatkopar (Eastern Mumbai).
Reliance Infrastructure's consolidated net profit jumped 78.3% to Rs 727.94 crore on 14.2% decline in net sales to Rs 5276.91 crore in Q3 December 2012 over Q3 December 2011.
Reliance Infrastructure is India's leading utility company having presence across the value chain of power business i.e. generation, transmission, distribution, EPC and trading. The company also undertakes infrastructure sector projects i.e. roads, highways, metro rail, airports and real estate.
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