Reliance Infrastructure has said on Tuesday that its net profit has risen by an impressive 76 per cent to Rs. 726.12 crore during the quarter till March 31, 2013.
The company had recorded a net profit of Rs. 411.46 crore during the same period of the previous financial year, it said in a statement. The company's total operating income stood at Rs 6,187 crore during the quarter from January to March 2013 compared to Rs 7,135 crore in the same quarter of the previous financial year.
The sudden, steep increase in toll charges on the Delhi-Agra highway by concessionaire Reliance Infrastructure (R-Infra) has attracted tough objections from transport lobbies.
R-Infra will soon widen the 165-kilometer Delhi-Agra stretch from four lanes to six, at an estimated cost of around Rs 2,945 crore, which includes renovation of 2 over passes, 14 vehicular underpasses, and 16 flyovers.
Reliance Infrastructure, which is the concessionaire for the Airport Metro Express Line of the Delhi metro in the national capital, has accused the Delhi Metro Rail Corporation (DMRC) of forcing it to use faulty chips in the underground section.
Anil Ambani-led Reliance Infrastructure is looking at several road and construction projects, which are under various stages of development in the country, in order to boost its portfolio.
RInfra is holding discussions with several players who are unable to execute projects they started due to lack of funds of other constrains, for taking over the project. Lalit Jalan, chief executive officer, RInfra has said that the company is looking to acquire secondary assets, mainly in the build-own-operate (BOT) space.
Bombay Stock Exchange is reported to have finally decided to remove mobile operator Reliance Communications and power utility Reliance Infrastructure, controlled by billionaire Anil Ambani, from the benchmark index.
Also, the companies were said to be the two worst Sensex performers, as Reliance Communications was down this year by 35% and Power Utility Reliance Infrastructure by 32%, with the main index dropping by 12%.
Stock market analyst Salil Sharma has maintained 'sell' rating on Reliance Infrastructure Limited stock to achieve a target of Rs 975.
According to analyst, the stock can be sold with a stop loss of Rs 1020.
Mr. Sharma said that the interested investors can sell the stock in today's session in order to avoid loss.
Today, the stock of the company opened at Rs 1004 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1225 and a low of Rs 964 on BSE.
Today Anil Ambani-led Reliance Infrastructure, was proposed to hike its power tariff in Mumbai, he said its tariff was higher contrasted to other distributors as it has to buy costly power from the market.
Today a statement was issued by the company, disputed against its move to raise tariffs by the Congress and the Shiv Sena, assumed that Tata Power was basis injustice to its consumers by reducing power allowance from 762 MW to 500 MW, most important to high tariff increase for its consumers.
Reliance Infrastructure has announced its fourth quarter financial results for the fiscal year 2009-10 and the net profit has been gone down for the quarter. Anil Dhirubhai Ambani Group (ADAG) group company Reliance Infrastructure has declared that the net profit of the company has declined by 27.5% for the quarter reviewed.
It has posted a net profit of Rs 251.1 crore for the quarter that ended in 31st March, 2010. This net profit figure was at Rs 251.1 crore for the same quarter in the preceding year.
Tata power is offering a proposal to take over R-Infra's Mumbai network. R-Infra is the major distribution business of Reliance Infrastructure. Customers will be benefited as there will be no wheeling charges while taking over a network according to S Ramakrishnan, Executive Director of Tata Power. The proposal is already passed by the company before Government of Maharashtra.
Technical analyst Kunal Sarogi is of the view that investors can buy Reliance Infrastructure stock to achieve a short-term target of Rs 1190.
According to him, investors can purchase the stock with a strict stop loss of Rs 1127.
Today, the stock of the company opened at Rs 1138 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1404.45 and a low of Rs 672 on BSE.
Current EPS & P/E ratio stood at 53.74 and 21.41 respectively.
Anil Ambani Group-controlled Reliance Infrastructure has posted a net profit of Rs 307 crore for the second quarter ended September 30, up 6%, against net profit of Rs 289 crore over the corresponding period last fiscal.
The company's total income rose to Rs 2812.82 crore during the July- September quarter of the current fiscal from Rs 2674.86 crore in the same period last year.
Net sales for the quarter rose 8.82% to Rs 2649.56 crore, while total income for the quarter rose 6.69% to Rs 2812.82 crore, when compared with the prior year period.
Anil Ambani Group-controlled Reliance Infrastructure, has secured an order worth Rs 590 crore from the National Highways Authority of India (NHAI) for Jaipur-Reengus highway project in Rajasthan.
Under the arrangement, Reliance Infrastructure will invest in design, engineering, finance, construction, operation and maintenance for 4/6 laning of Jaipur - Reengus Section.
The 53 km long highway stretch falls on NH-11, connecting Jaipur to Bikaner via Sikar and would be operational by March 2011. The project is carried out under NHAI's National Highways Development Programme (Phase III).
The company officials stated that on completion of project, the highway will facilitate smooth ride of vehicles on Jaipur-Rengus-Sikar-Bikaner corridor.
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