Reliance Infrastructure | Business Upturn

Reliance Infrastructure announces special window for share transfer and dematerialisation

Arunika Jain — Fri, 24 Apr 2026 17:08:02 +0000

Reliance Infrastructure has announced the opening of a special window to facilitate the transfer and dematerialisation of physical shares. This initiative, which is in line with a SEBI circular dated January 30, 2026, will be available until February 04, 2027. The special window aims to assist shareholders in transferring and dematerialising shares that were sold or purchased prior to April 01, 2019.

The announcement was made through newspaper publications in the Financial Express and Navshakti, dated April 24, 2026. This move is part of the company’s efforts to comply with regulatory requirements and provide an opportunity for shareholders to transition their physical shares into electronic form.

The company has urged shareholders to take advantage of this special window to ensure their shares are dematerialised, which is a step towards enhancing the efficiency and security of share transactions. The details of the special window and the process for dematerialisation are available on the company’s website, www.rinfra.com.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Infrastructure clarifies departure of former executives Amitabh Jhunjhunwala and Amit Bapna

Yash Agarwal — Thu, 16 Apr 2026 07:33:20 +0000

Reliance Infrastructure Limited has issued a media statement clarifying the departure of two former executives, Amitabh Jhunjhunwala and Amit Bapna, from the Reliance Group. The statement addresses media queries regarding their association with the company.

Amitabh Jhunjhunwala left the Reliance Group in September 2019, nearly seven years ago, and has had no association with the group since, including with Reliance Infrastructure Limited and Reliance Power Limited. During his tenure, he held the position of Group Managing Director of the Reliance Group and served as Vice Chairman and Director of Reliance Capital Limited.

Similarly, Amit Bapna departed from the Reliance Group in December 2019, also nearly seven years ago, and has not been associated with the group thereafter. During his time with the group, he served as the Chief Financial Officer of Reliance Capital Limited and was a Director of Reliance Home Finance Limited.

Reliance Infrastructure Limited, along with Reliance Power Limited, is part of the Reliance Group, which boasts a combined investor base of approximately 50 lakh shareholders and serves millions of customers. Reliance Infrastructure is one of the largest infrastructure companies in India, with projects in high-growth sectors such as Power, Roads, Metro Rail, and Defence. The company is a significant player in providing Engineering and Construction services for developing power, infrastructure, metro, and road projects.

Reliance Power Limited is a leading power generation company in India, with a total installed capacity of 5,305 MW. This includes the Sasan Ultra Mega Power Project in Madhya Pradesh, which is the largest integrated thermal power plant in the world.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Power clarifies that Amitabh Jhunjhunwala and Amit Bapna are not associated with the company since many years now

Yash Agarwal — Thu, 16 Apr 2026 07:30:28 +0000

Reliance Power Limited has clarified the status of two former key executives in response to media inquiries. The company confirmed that Amitabh Jhunjhunwala, who served as the Group Managing Director of the Reliance Group and Vice Chairman and Director of Reliance Capital Limited, left the group in September 2019. Since his departure nearly seven years ago, he has had no association with Reliance Infrastructure Limited or Reliance Power Limited.

Similarly, Amit Bapna, who held the position of Chief Financial Officer of Reliance Capital Limited and was a Director of Reliance Home Finance Limited, exited the Reliance Group in December 2019. Like Jhunjhunwala, Bapna has not been associated with Reliance Infrastructure Limited or Reliance Power Limited since his departure.

The Reliance Group, which includes Reliance Infrastructure Limited and Reliance Power Limited, boasts a combined investor base of approximately 50 lakh shareholders. The group serves millions of customers and consumers across various sectors.

Reliance Infrastructure Limited is recognised as one of the largest infrastructure companies in India, with projects in high-growth sectors such as power, roads, metro rail, and defence. The company is a significant player in providing engineering and construction services for developing power, infrastructure, metro, and road projects.

Reliance Power Limited, on the other hand, is one of India’s leading power generation companies with a total installed capacity of 5,305 MW. This includes the Sasan Ultra Mega Power Project in Madhya Pradesh, which is the largest integrated thermal power plant in the world.

For further information, interested parties can contact Daljeet Singh at 9818802509 or via email at daljeet.s.singh@reliancegroupindia.com, and Biswajit Baruah at 9920747639 or biswajit.baruah@reliancegroupindia.com.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Infrastructure appoints Vijay S. Tiwari & Associates as secretarial auditors for FY26

Kinjal — Mon, 30 Mar 2026 15:14:21 +0000

Reliance Infrastructure has announced the appointment of M/s. Vijay S. Tiwari & Associates as the secretarial auditors for the financial year 2025-26. This decision was approved by the company’s Board of Directors during their meeting held on March 30, 2026.

The appointment fills a casual vacancy and M/s. Vijay S. Tiwari & Associates will hold office until the conclusion of the next Annual General Meeting of the company. The firm, based in Mumbai, has been in practice since 2013 and is registered with the Institute of Company Secretaries of India (ICSI). It offers a range of services including secretarial, legal, and corporate advisory.

Led by Shri Vijay S. Tiwari, the firm is supported by a team of qualified professionals. Shri Tiwari himself holds a Bachelor’s degree in Commerce, a Master’s degree in Financial Management, and an LL.B. His expertise spans various specialised areas of corporate law, including the Companies Act, FEMA, SEBI regulations, IPOs, and more.

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the requisite disclosures have been submitted as per the SEBI circular dated January 30, 2026.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Infrastructure clarifies typographical error in financial results report

Business Desk — Mon, 09 Mar 2026 13:25:27 +0000

Reliance Infrastructure has addressed a typographical error in its financial results report for the quarter and nine months ended December 31, 2025. The company clarified that the date on the Standalone Limited Review Report was mistakenly recorded as 2025 instead of 2026. This error was identified in response to a query from the National Stock Exchange of India (NSE) dated February 27, 2026.

The company assured stakeholders that the error was purely typographical and had no impact on the financial results or their interpretation. Reliance Infrastructure has submitted a revised Standalone Limited Review Report with the correct date for record-keeping purposes.

The company also addressed several other matters in its financial statements, including an exposure of ₹4,748.11 crore to the economic rights of shareholding in Odisha Discoms and certain unlisted entities. Additionally, the auditors highlighted ongoing proceedings by regulatory bodies and potential uncertainties regarding the company’s ability to continue as a going concern.

Despite these challenges, Reliance Infrastructure has prepared its financial results on a going concern basis, citing reasons detailed in the accompanying notes to the financial statements. The company has also made adjustments to its accounting policies and financial statements, including changes in the treatment of investments and impairment assessments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Infrastructure shares jump nearly 3% after company bags solar power project LOA from NHPC

Aman Shukla — Tue, 19 Aug 2025 04:12:30 +0000

Reliance Infrastructure shares gained nearly 3% in early morning trade after the company received a Letter of Award (LOA) from NHPC Limited, a leading Navratna public sector enterprise, to develop a 390 MW interstate transmission system (ISTS)-connected solar power project with integrated Battery Energy Storage System (BESS). As of 9:41 AM, the shares were trading 2.73% higher at Rs 269.00.

Once commissioned, the project will add 700 MWp of solar DC capacity and 780 MWh of BESS capacity to the Reliance Group’s portfolio, further strengthening its position in India’s renewable energy sector. The tariff for the project was discovered at ₹3.13 per unit, making it one of the most competitively priced solar + storage projects in the country.

The award is part of an NHPC tender that saw strong industry participation. Out of 15 bidders, 14 qualified for the e-reverse auction, and the tender was oversubscribed nearly four times. This reflects rising demand for dispatchable renewable energy solutions that integrate solar generation with storage.

Reliance Power, another listed entity under the Group, already operates around 2.5 GWp of solar capacity and 2.5 GWh of BESS capacity. With this latest win, the Group’s clean energy pipeline now exceeds 3 GWp of solar DC and 3.5 GWh of BESS, positioning it as the largest integrated player in India’s solar-plus-storage segment.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Reliance Infrastructure secures NHPC project for 390 MW Solar + Battery Storage project at ₹3.13/kWh

Aman Shukla — Tue, 19 Aug 2025 03:39:48 +0000

Reliance Infrastructure Limited has received a Letter of Award (LOA) from NHPC Limited, a leading Navratna public sector enterprise, for developing a 390 MW interstate transmission system (ISTS)-connected solar power project integrated with a Battery Energy Storage System (BESS).

Once commissioned, the project will add 700 MWp of solar DC capacity and 780 MWh of BESS capacity to the Reliance Group’s portfolio, further strengthening its position in India’s clean energy space. The winning tariff for the project was discovered at ₹3.13 per unit, making it one of the most competitively priced renewable energy projects in the country.

The award comes under an NHPC tender that witnessed strong participation from the industry. Out of 15 bidders, 14 qualified for the e-reverse auction, and the tender was oversubscribed nearly four times. This highlights the growing interest in dispatchable renewable energy solutions that combine solar generation with energy storage.

Reliance Power, another listed entity of the Reliance Group, already has a renewable energy portfolio of about 2.5 GWp solar capacity and 2.5 GWh of BESS capacity. With the addition of this new award, the Group’s clean energy pipeline now exceeds 3 GWp of solar DC capacity and 3.5 GWh of BESS capacity, making it the largest integrated player in India’s solar + storage segment.

Reliance Infrastructure share hits 5% upper circuit after its subsidiary secures Rs 600 crore export order from Rheinmetall

Aman Shukla — Wed, 25 Jun 2025 09:33:40 +0000

Shares of Reliance Infrastructure surged 5% and hit the upper circuit after its subsidiary, Reliance Defence Limited, secured a major export order worth ₹600 crore from Germany-based Rheinmetall Waffe Munition GmbH, a global leader in defence and ammunition manufacturing.

This significant order is among the largest ever in India’s high-tech ammunition export space, reflecting the strength of Reliance Defence’s growing global partnerships. It also underscores the deepening strategic alliance between Reliance Defence and Rheinmetall, with Europe emerging as a key export market.

The deal gives a major boost to India’s defence export ambitions and aligns closely with the government’s ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives, aimed at promoting indigenous defence production.

Reliance Defence has set a bold target of becoming one of the top three defence exporters from India. Supporting this vision, the company is developing the Dhirubhai Ambani Defence City (DADC) at Watad in Ratnagiri, Maharashtra. This state-of-the-art greenfield project will be India’s largest private defence manufacturing hub, featuring integrated facilities for ammunition, explosives, and small arms.

Reliance Infrastructure shares opened at ₹388.00 and touched a high of ₹404.65 during the trading session. The stock also saw a low of ₹383.10 on the same day. It is trading close to its 52-week high of ₹420.00, while the 52-week low stands at ₹169.51.

Reliance Defence secures Rs 600 crore export order from German firm Rheinmetall

Aman Shukla — Wed, 25 Jun 2025 09:28:15 +0000

Reliance Infrastructure Limited promoted, Reliance Defence Limited (Reliance Defence), has recently informed exchanges that the copmany secured a major export order worth ₹600 crore from Germany’s Rheinmetall Waffe Munition GmbH, a global leader in defence and ammunition manufacturing.

This high-value order marks one of the largest exports in India’s high-tech ammunition space and highlights the deepening strategic partnership between Reliance Defence and Rheinmetall. The deal strengthens Reliance Defence’s global footprint, particularly in Europe, and reinforces India’s push for indigenous defence production under the ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives.

The agreement also supports Reliance Defence’s ambition to become one of India’s top three defence exporters. It will play a pivotal role in boosting the country’s private defence manufacturing capabilities.

To support this growing export momentum, the company is developing the Dhirubhai Ambani Defence City (DADC) in Watad, Ratnagiri, Maharashtra. This greenfield project will be the largest of its kind by a private player in India, featuring integrated manufacturing facilities for ammunition, explosives, and small arms.

The DADC is set to become a major hub for defence innovation, production, and global supply, driving export-led growth for India’s private defence sector.

Reliance Infrastructure shares surge nearly 10% in 2 days on Falcon 2000 jet deal with Dassault Aviation

Aman Shukla — Thu, 19 Jun 2025 04:30:59 +0000

Reliance Infrastructure shares jumped nearly 10% in two days following a landmark aerospace agreement between its subsidiary, Reliance Aerostructure Limited (RAL), and France-based Dassault Aviation. Announced at the Paris Air Show 2025, the partnership will see the manufacturing of Falcon 2000 business jets in India—a first for Dassault outside France.

The collaboration will be executed through the joint venture Dassault Reliance Aerospace Limited (DRAL), which will establish a final assembly line in Nagpur, Maharashtra. The facility aims to serve both domestic and international markets, with the first “Made-in-India” Falcon 2000 jet expected by 2028.

As part of the deal, India will become a key hub for multiple Falcon programs. Dassault plans to transfer crucial manufacturing elements—including wings and fuselage—of its Falcon 2000, 6X, and 8X aircraft to DRAL. This strategic move underlines India’s growing role in global aerospace production.

Since its inception in 2017, DRAL has already delivered over 100 Falcon 2000 sub-sections, showcasing India’s strength in high-precision aerospace manufacturing. The new venture is expected to generate significant employment, with hundreds of engineers and technicians to be onboarded.

Reliance Infrastructure shares traded in a narrow range today, opening at ₹400.00 and hitting an intraday high of ₹405.00. The stock also touched a low of ₹394.00 during the session. It remains close to its 52-week high of ₹420.00, significantly up from its 52-week low of ₹169.51.

Reliance Infrastructure shares hit 5% upper circuit after subsidiary partners with Dassault Aviation to manufacture Falcon 2000 jets

Aman Shukla — Wed, 18 Jun 2025 08:44:00 +0000

Reliance Infrastructure shares surged 5% to hit the upper circuit after its subsidiary, Reliance Aerostructure Limited (RAL), and Dassault Aviation announced a major partnership to manufacture Falcon 2000 business jets in India. Revealed at the Paris Air Show, the deal marks a historic move as Dassault will build its Falcon jets outside France for the first time, highlighting India’s rising prominence in global aerospace manufacturing.

The joint venture, Dassault Reliance Aerospace Limited (DRAL), will set up a final assembly line in Nagpur, Maharashtra. The facility is expected to produce Falcon 2000 jets for both domestic and international markets, with the first ‘Made-in-India’ jet projected to fly by 2028.

Under this collaboration, DRAL will become a Center of Excellence (CoE) for multiple Falcon programs, and Dassault will transfer key production elements such as the wings and fuselage of its Falcon 2000, 6X, and 8X jets to India.

Since its formation in 2017, DRAL has already delivered over 100 Falcon 2000 sub-sections, underscoring India’s evolving capability in precision aerospace manufacturing. The new phase of development is expected to generate significant employment opportunities in the sector, with hundreds of engineers and technicians to be hired.

Reliance Infrastructure shares opened at ₹365.90 and touched a high of ₹386.50 during the trading session, while the low stood at ₹362.10. The stock remains close to its 52-week high of ₹420.00, reflecting strong recent performance. Its 52-week low is ₹169.51.

Reliance Infrastructure subsidiary and Dassault Aviation partner to manufacture Falcon 2000 jets in India

Aman Shukla — Wed, 18 Jun 2025 08:39:10 +0000

Dassault Aviation and Reliance Infrastructure’s subsidiary, Reliance Aerostructure Limited (RAL), have announced a landmark partnership at the Paris Air Show to manufacture Falcon 2000 business jets in India. The collaboration marks the first time Dassault will build Falcon jets outside France, signifying a major leap for India’s aerospace manufacturing sector.

The joint venture, Dassault Reliance Aerospace Limited (DRAL), will establish a final assembly line in Nagpur, Maharashtra, making India a global hub for high-end business jet production. The facility will serve both domestic and international markets, with the first ‘Made-in-India’ Falcon 2000 jet expected to take flight by 2028.

As part of this strategic collaboration:

DRAL will become the Center of Excellence (CoE) for the Falcon 2000, Falcon 6X, and Falcon 8X programs—Dassault’s first CoE outside France.
Dassault will transfer assembly of the Falcon 2000’s wings and fuselage, as well as the front sections of Falcon 6X and 8X, to DRAL.

Since its establishment in 2017, DRAL has delivered over 100 major Falcon 2000 sub-sections, showcasing India’s growing precision manufacturing capabilities. The new phase will see DRAL hire several hundred engineers and technicians over the next decade, further boosting India’s aerospace talent base.

The Falcon jets already enjoy strong demand in India’s corporate and charter aviation market, admired for their performance, comfort, and efficiency. This partnership not only enhances India’s aerospace prowess but also positions the country alongside global aviation leaders such as the U.S., France, Canada, and Brazil.

This strategic development reinforces Dassault Aviation’s long-term commitment to India and marks a new chapter in global aerospace collaboration.

Reliance Infrastructure shares climb nearly 3% as company resolves disputes worth Rs 6,503 crore

Aditya Bhagchandani — Mon, 10 Feb 2025 04:27:20 +0000

Shares of Reliance Infrastructure Limited surged by nearly 3% today, trading at ₹293.75, up by ₹7.25, following the announcement of a successful dispute resolution with CLE Private Limited (CPL). The stock witnessed strong activity, with a day’s range of ₹287.20 to ₹303.00 and a market capitalization of ₹116.21 billion INR.

Dispute Settlement: Key Details

Reliance Infrastructure has settled outstanding claims and disputes with CPL under the Mediation Act, 2023. The agreement, worth Rs 6,503.13 crore, comprises asset and economic interest transfers of Rs 5,777.13 crore to Reliance Infrastructure and the conversion of Rs 726 crore into a secured loan.

The strategic settlement is expected to boost Reliance Infrastructure’s financial stability, enhance its asset base, and provide a positive impact on stakeholder confidence.

Market Reaction

Investors responded positively to the news, with shares moving within the day’s range of ₹287.20 to ₹303.00. The company’s strong asset position post-settlement is expected to provide long-term financial benefits, further strengthening its balance sheet and market outlook.

Reliance Infra signs Rs 16,500 crore MoU with Maharashtra government for defence projects

Aditya Bhagchandani — Wed, 22 Jan 2025 03:34:20 +0000

Reliance Infrastructure has inked a significant memorandum of understanding (MoU) with the Maharashtra government, committing an investment of Rs 16,500 crore for defence projects in the state, as reported by ANI. The announcement was made during the first day of the World Economic Forum (WEF) in Davos, showcasing Maharashtra’s ability to attract major industrial investments.

The projects under this partnership are set to be established in Ratnagiri, focusing on bolstering India’s defence capabilities while promoting industrial growth in the region. The investment is expected to generate substantial employment opportunities, contributing to Maharashtra’s broader economic development.

Chief Minister Devendra Fadnavis highlighted the importance of this collaboration, stating, “This partnership with Reliance Infrastructure will not only strengthen the state’s industrial base but also enhance India’s defence production capabilities.”

This MoU is part of a larger wave of investment commitments worth over Rs 4.99 lakh crore that Maharashtra has secured at WEF, spanning diverse sectors such as steel, renewable energy, logistics, and IT. With the state’s continued focus on ease of doing business, such agreements underline its position as a top investment destination in India.

Disclaimer: The information provided is based on announcements made during the World Economic Forum (WEF) and other sources. The company has not officially updated this information in any exchange filing.

Reliance Infrastructure’s subsidiary faces lender notices for DSRA defaults on Pune-Satara NH-44 project

Aman Shukla — Fri, 27 Dec 2024 14:36:04 +0000

Reliance Infrastructure’s subsidiary, PS Toll Road Private Limited (PSTR), has received notices from Axis Bank and IDFC First Bank. The banks have invoked substitution rights under a concession agreement for a highway project, citing alleged defaults by PSTR.

In the exchange filing, the company shared,” PS Toll Road Private Limited (PSTR), a wholly owned subsidiary of the Company, has received Notices dated December 26, 2024, from Axis Bank Limited and IDFC First Bank Limited, invoking the right of substitution under the Concession Agreement for six-laning the Pune-Satara section of NH-44 in Maharashtra, for and on behalf of lenders of PSTR citing alleged DSRA defaults by PSTR.”

In response, PSTR plans to pursue legal action to safeguard its interests. Reliance Infrastructure has stated that it is currently unable to assess the financial impact of this development on the company.

In the meantime, Reliance Infrastructure shares closed today at ₹298.50, slightly down from the opening price of ₹308.00. The stock touched a high of ₹310.00 and a low of ₹298.00 during the session. Currently, it trades below its 52-week high of ₹351.00 but remains significantly above its 52-week low of ₹144.45.

Reliance Infrastructure expands EV footprint through 2 new subsidiaries

Matrika Shukla — Fri, 29 Nov 2024 14:22:02 +0000

Reliance Infrastructure Limited has announced the incorporation of two new subsidiaries under its wholly owned subsidiary, Reliance Velocity Limited (RVL). The newly formed entities, Reliance Perfect EV Private Limited and Reliance Pure EV Private Limited, mark a significant step forward in the company’s ambition to strengthen its foothold in the electric vehicle (EV) and sustainable mobility industry.

The primary objective of these subsidiaries is to manufacture and deal in vehicles and components catering to diverse transport and conveyance needs. This includes a focus on leveraging various fuel types, with an emphasis on cleaner, electric energy. Both entities aim to contribute to the evolution of India’s EV ecosystem, which is seeing robust growth and government support.

According to the disclosure, the authorized and paid-up share capital for each of the new companies stands at ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Reliance Velocity Limited holds 100% ownership of both subsidiaries, ensuring complete control by Reliance Infrastructure.

Reliance Perfect EV Private Limited was incorporated on November 28, 2024, while Reliance Pure EV Private Limited followed on November 29, 2024. Both companies are yet to commence business operations, positioning them to actively contribute to Reliance Infrastructure’s strategic expansion in the automotive and EV domain.

This development reflects Reliance Infrastructure’s commitment to fostering sustainable mobility solutions and advancing its position in the evolving EV market in India.

Reliance Infra announces debt settlement agreement for subsidiary JR Toll Road

Aditya Bhagchandani — Tue, 26 Nov 2024 17:59:55 +0000

Reliance Infrastructure Limited (Reliance Infra) disclosed today that its wholly-owned subsidiary, JR Toll Road Private Limited (JRTR), has entered into a settlement agreement with Yes Bank Limited (YBL) to settle the entire outstanding debt obligation of approximately Rs 271.18 crore, inclusive of interest.

In a filing under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that this agreement also results in a full discharge of Reliance Infra’s obligation as the corporate guarantor for the said loan on behalf of JRTR.

The company further clarified that Yes Bank does not hold any shares in Reliance Infrastructure and is neither a related party nor part of the promoter group.

This resolution highlights Reliance Infra’s ongoing efforts to reduce debt and strengthen its financial position.

Reliance Infrastructure shares surge 3% on board reconstitution and Vision 2030 strategy

Aditya Bhagchandani — Tue, 19 Nov 2024 04:02:41 +0000

Shares of Reliance Infrastructure Ltd. rose 3% to ₹260.30 in early trading on November 19, 2024, following the announcement of significant board restructuring aligned with the company’s Vision 2030 growth strategy.

Key Highlights:

Board Reconstitution:
- Reliance Infrastructure appointed Partha Sarma, President of Group Corporate Development, as an Additional Director.
- Reliance Power promoted Ashok Pal, CFO, to Executive Director, while appointing Sachin Mohapatra, CEO of Sasan Power Ltd., and Harmanjit Singh Nagi, President of Corporate Development, as Additional Directors.
Strategic Focus:
- The restructuring aims to align leadership with the Vision 2030 growth strategy, emphasizing renewable energy, green technologies, and infrastructure development.
- This move highlights the company’s commitment to leveraging internal talent and fostering innovation for sustained growth.
Leadership Profiles:
- Partha Sarma brings global expertise in financial services, defense, and infrastructure, having been with the Reliance Group for over six years.
- Ashok Pal, with over 25 years of experience, has been instrumental in Reliance Power’s financial strategy.
- Sachin Mohapatra leads the 4,000 MW Sasan Power UMPP, one of the largest coal-based power plants globally.
- Harmanjit Singh Nagi specializes in green energy and strategic leadership, with expertise in solar and hydroelectric projects.

Market Reaction:

At 9:31 AM, shares of Reliance Infrastructure were trading 2.42% higher at ₹260.30 on the NSE, reflecting positive investor sentiment towards the company’s growth-oriented leadership and strategic investments in renewable energy and innovation.

Reliance Power and Reliance Infrastructure reconstitute boards, appoint 4 new directors

Matrika Shukla — Mon, 18 Nov 2024 11:32:04 +0000

Reliance Group companies, Reliance Power Ltd. and Reliance Infrastructure Ltd., have reconstituted their boards, elevating four senior executives to the board of directors, as part of their Vision 2030 growth strategy.

The newly appointed directors at Reliance Power include Ashok Pal, Chief Financial Officer (CFO) of Reliance Power, who has been promoted to Executive Director. Sachin Mohapatra, CEO of Sasan Power Ltd., and Harmanjit Singh Nagi, President of Corporate Development at Reliance Power, have been appointed as Additional Directors. At Reliance Infrastructure, Partha Sarma, President of Group Corporate Development, has been appointed as an Additional Director.

The restructuring aims to position the boards with leadership aligned with the group’s Vision 2030 strategy, focusing on growth and innovation. This move emphasizes the group’s commitment to rewarding internal talent, recognizing proven leadership, and fostering a culture of sustained growth. The newly appointed directors bring hands-on experience, with expertise in key sectors such as finance, power, energy, and environmental sustainability.

Ashok Pal, a Chartered Accountant with over 25 years of experience in finance, taxation, and compliance, has been with Reliance Power for over seven years. As CFO, he has contributed significantly to the company’s financial strategies. Sachin Mohapatra, who has been with the group for eight years, has led the 4000 MW Sasan Power UMPP, one of the world’s largest integrated coal-based power plants. His leadership has helped position Sasan as one of India’s top sustainable plants.

Harmanjit Singh Nagi brings more than three decades of expertise in strategic leadership and business development, particularly in green energy initiatives, including large-scale solar and hydroelectric projects. Partha Sarma, associated with Reliance Group for more than six years, has significant experience in global business leadership, particularly in financial services, defense, and infrastructure.

The restructuring aligns with the companies’ plans to target significant investments in renewable energy and new technologies, ensuring the group remains competitive and future-ready. The newly established Reliance Group Corporate Centre (RGCC) will provide strategic guidance to these newly appointed directors, ensuring a smooth integration into their leadership roles.

Reliance Infrastructure shares climb 4% ahead of Q2 results

Aditya Bhagchandani — Thu, 14 Nov 2024 04:59:36 +0000

Reliance Infrastructure Ltd (Reliance Infra) shares rose nearly 4% on the National Stock Exchange (NSE) today as investors await the company’s second-quarter (Q2) financial results. The stock was trading at ₹259.95, up from its previous close of ₹249.70.

Key Developments

Q2 Financial Results: Market watchers are anticipating Reliance Infra’s Q2 FY25 earnings report, which is expected to shed light on the company’s performance amid a challenging business environment. Over the past few quarters, Reliance Infra has faced financial pressures, leading to investor interest in its earnings results.
Supreme Court Hearing: Adding to the market excitement, the Supreme Court is set to hear a petition filed by the Delhi Metro Rail Corporation (DMRC) today. DMRC has moved to initiate contempt proceedings against Reliance Infra’s subsidiary, Delhi Airport Metro Express Private Ltd (DAMEPL), and its managing director, accusing them of “willfully disobeying” the court’s April 10 directive. The directive called for a refund of amounts deposited by DMRC, leading to a legal standoff that has intensified market scrutiny.
Stock Performance: Reliance Infra’s stock has seen significant volatility this year, with a 52-week high of ₹351.00 and a low of ₹144.45. Today’s rally is driven by investor anticipation for Q2 results and the Supreme Court hearing outcome, which could influence the company’s financial standing.

About Reliance Infra Reliance Infrastructure, part of the Anil Ambani-led Reliance Group, is a major player in integrated power utilities and infrastructure projects across India. Despite financial challenges, the company remains active in diverse infrastructure sectors, including roads, power, metro rail, and airports.

Investors and analysts will closely monitor both the Q2 earnings and developments from the Supreme Court hearing, which could have substantial implications for Reliance Infra’s operations and financial outlook.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.

Reliance Infrastructure to invest ₹10,000 crore in defence manufacturing project over next decade

Markets Desk — Tue, 22 Oct 2024 12:03:42 +0000

Reliance Infrastructure Limited has announced a significant investment of ₹10,000 crore over the next 10 years to establish an integrated project for manufacturing explosives, ammunition, and small arms. The project will be located in Ratnagiri, Maharashtra, as part of the Dhirubhai Ambani Defence City (DADC). Spread over 1,000 acres, DADC aims to become India’s largest greenfield defence project by any private sector entity.

The new facility will focus on producing a range of ammunition, from small to large calibers, along with terminally guided munitions (TGMs). It will also cater to civil and military small arms export markets. Reliance plans to explore potential joint ventures with up to six global defence companies to enhance its technological capabilities and market reach.

Reliance Infrastructure’s defence arm already boasts successful ventures with global leaders like Dassault Aviation and Thales of France at MIHAN, Nagpur.

Reliance Infrastructure reports total financial indebtedness of ₹488.40 crore for Q2 FY24

Aditya Bhagchandani — Mon, 07 Oct 2024 20:33:01 +0000

Reliance Infrastructure Limited has released its disclosure for the quarter ending September 30, 2024, in compliance with the SEBI Circular dated November 21, 2019. The company reported details regarding its outstanding loans, defaults, and overall financial indebtedness.

Key Highlights

Loans and Revolving Facilities from Banks and Financial Institutions
- The total amount outstanding as of September 30, 2024, is ₹86.37 crore.
- This entire outstanding amount is considered a default, which includes principal and interest due on a provisional and estimated basis.
Unlisted Debt Securities (NCDs and NCRPS)
- The company has no outstanding amount under unlisted debt securities as of September 30, 2024. Hence, there is no default reported in this category.
Total Financial Indebtedness
- Reliance Infrastructure’s total financial indebtedness, which includes both short-term and long-term debt, stands at ₹488.40 crore as of the quarter end.

Note

The figures mentioned are provisional and subject to reconciliation, reflecting the external indebtedness of the company from banks and financial institutions.

The disclosure was officially communicated by Paresh Rathod, Company Secretary of Reliance Infrastructure Limited, in a report filed with the BSE and NSE on October 7, 2024.

Anil Ambani’s Reliance Group partners with Druk Holding to develop 500 MW solar and 770 MW hydro projects in Bhutan

News Desk — Wed, 02 Oct 2024 10:18:40 +0000

Anil Ambani’s Reliance Group, in partnership with Druk Holding and Investments Ltd. (DHI), the commercial arm of the Royal Government of Bhutan, has announced major renewable energy initiatives in Bhutan. The strategic partnership will focus on green energy generation, with the development of a 500 MW solar power plant in Gelephu Mindfulness City and a 770 MW Chamkharchhu-1 hydroelectric project.

Key Highlights:

Reliance Enterprises Private Limited (REPL), a newly formed company by Reliance Infrastructure and Reliance Power, will lead the initiatives to promote investment in Bhutan’s renewable and green energy sector.
The 500 MW solar plant will be developed in two phases of 250 MW each over the next two years. Once completed, it will be the largest solar installation in Bhutan, significantly contributing to the country’s clean energy generation and efforts to combat climate change.
The 770 MW Chamkharchhu-1 hydroelectric project, a run-of-the-river venture, is classified under a concession model in alignment with Bhutan’s national policy. This project will add substantial power capacity to Bhutan’s existing generation capabilities of 2,452 MW.

This strategic agreement underscores Reliance Group’s commitment to sustainable energy development, aiming to enhance the renewable energy landscape of Bhutan while furthering its clean energy goals. The collaboration also represents the largest foreign direct investment (FDI) by an Indian private company in Bhutan’s renewable energy sector.

Anil Ambani, Chairman of Reliance Group, and Ujjwal Deep Dahal, CEO of Druk Holding, expressed optimism about the partnership’s potential to drive green energy projects that will benefit both Bhutan and India. The projects will support Bhutan’s ambitions for a net-zero economy, reinforcing its commitment to the environment and clean energy.

These initiatives align with Bhutan’s vision of sustainable development and Gross National Happiness (GNH), promoting economic growth while ensuring the well-being of its citizens.

Reliance Infrastructure to receive ₹950 crore from Damodar Valley Corp after Calcutta HC ruling

Aditya Bhagchandani — Fri, 27 Sep 2024 10:01:58 +0000

Reliance Infrastructure is set to receive ₹950 crore from Damodar Valley Corporation (DVC) following a favorable ruling by the Calcutta High Court. The court upheld an arbitration award against DVC, dismissing the latter’s appeal through its division bench.

Key Highlights:

Arbitration Win: The Calcutta High Court has upheld the ₹950 crore arbitration award in favor of Reliance Infrastructure.
DVC’s Appeal Dismissed: The appeal by DVC was rejected by the division bench of the Calcutta High Court, confirming the award.
Release of Funds: Alongside the ₹950 crore, Reliance Infrastructure is also expected to have its ₹600 crore bank guarantee released within four weeks.

This decision marks a significant financial gain for Reliance Infrastructure, as it not only secures a substantial payout but also frees up previously blocked funds through the bank guarantee. The ruling solidifies the company’s position and bolsters its financial standing.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Reliance Infra shares surge 48% this week on company’s settlement with Adani Group and LIC

Aman Shukla — Sat, 21 Sep 2024 04:18:45 +0000

Reliance Infrastructure shares jumped more than 48% this week after the company’s settlement with Adani Group and LIC.

The recently firm announced the completion of a One-Time Settlement with the Life Insurance Corporation of India, which resolved all obligations relating to the firm’s Non-Convertible Debentures. The total settlement amount is ₹600 crore.

Furthermore, a settlement has been struck by Reliance Infrastructure with Adani Energy Solutions Limited (AESL) and Adani Electricity Mumbai Limited (AEML). The two businesses have decided to drop their arbitration claims without any monetary exchange.

In the meantime, Reliance Infrastructure witnessed significant stock fluctuations on Friday, opening at ₹284.65, reaching a high of ₹327.70 and a low of ₹281.81, reflecting strong market activity throughout the day.

Stock Market Today: Top gainers and losers in market today, September 18, 2024; Reliance Infra, Torrent Power, SBI Cards, Zee and more

Aditya Bhagchandani — Wed, 18 Sep 2024 11:20:10 +0000

Indian equity indices were unable to sustain early gains and closed in the red on September 18, with Nifty falling below 25,400. By the end of the session, the Sensex had dropped 131.43 points or 0.16 percent to 82,948.23, while the Nifty declined by 41 points or 0.16 percent, finishing at 25,377.50.

Gainers:

Restaurant Brands Asia: Shares surged 3% after a block deal involving 1.07 crore shares.
Reliance Infrastructure: The stock jumped 20% following the company’s settlement of obligations with Edelweiss.
DCM Shriram Industries: Shares rose over 4% after the BSE issued ‘no adverse’ observations for the company’s merger plan.
REC: The stock climbed more than 3% after signing non-binding MOUs with renewable energy developers.
Torrent Power: Shares gained over 9% after receiving a Letter of Intent from Maharashtra State Electricity Distribution Company.
Vakrangee: Share price increased by 7% following the announcement of a strategic corporate agency tie-up with Star Health & Allied Insurance.
Inox Wind: Shares rose after the company received a Letter of Intent from IGREL Renewables Ltd.

Losers:

SBI Cards: Shares dipped 1.6% after the announcement of a private placement of securities.
ZEE: The stock settled lower after the company refuted claims made by Star India Private Limited

Reliance Infra shares surge 6% following company’s settlement with Adani Group and LIC

Aman Shukla — Wed, 18 Sep 2024 04:59:39 +0000

Reliance Infrastructure shares jumped more than 6% in morning trade after the company’s settlement with Adani Group and LIC.

The company has recently announced the successful completion of a One-Time Settlement (OTS) with the Life Insurance Corporation of India (LIC), settling all obligations related to the company’s Non-Convertible Debentures (NCDs). The entire settlement amount is ₹600 crore.

Reliance Infrastructure has also reached a settlement with Adani Electricity Mumbai Limited (AEML) and Adani Energy Solutions Limited (AESL). Without any monetary exchange, the two firms have agreed to withdraw their arbitration claims.

As of 10:28 am, Reliance Infrastructure shares were trading 5.50% higher at Rs 248.56 on the NSE.

Reliance Infrastructure settles disputes with Adani Group, arbitration claims withdrawn

Aditya Bhagchandani — Wed, 18 Sep 2024 03:45:19 +0000

Reliance Infrastructure has reached a settlement with Adani Electricity Mumbai Limited (AEML) and Adani Energy Solutions Limited (AESL), previously known as Adani Transmission Limited. Both companies have agreed to withdraw their arbitration claims without any monetary exchange.

The settlement resolves disputes related to the transfer of the Mumbai Power Business to AESL under a share purchase agreement signed in December 2017. No special rights or shareholdings are involved in this settlement, and no financial compensation has been provided.

This agreement brings closure to ongoing legal proceedings between the parties.

Reliance Infrastructure shares surge 5% as company to discuss fundraising plans on September 19

Aditya Bhagchandani — Tue, 17 Sep 2024 04:03:46 +0000

Shares of Reliance Infrastructure saw a surge, rising by 5%, following news of upcoming fundraising plans. The company announced that its board will meet on Thursday, September 19, 2024, to consider the approval of raising long-term resources from both domestic and global markets.

The company may explore various options for fundraising, including issuing equity shares, convertible securities, or warrants. The fundraising methods could involve a preferential issue, a qualified institutional placement, or a rights issue. The board will also discuss determining the issue price and seek any necessary approvals from shareholders.

Reliance Infrastructure operates through various special purpose vehicles (SPVs) and focuses on high-growth sectors like power, roads, metro rail, airports, and defence. The company’s shares were trading 4.18% higher at ₹225.09 on NSE as of 9:30 am.

Reliance Infrastructure reports net loss of ₹107 crore in Q3

Sathvika Chelakani — Sat, 12 Feb 2022 15:11:38 +0000

Reliance Infrastructure (RInfra) on Saturday reported a consolidated net loss of Rs 106.91 crore for the quarter ended December 31, 2021. The company had marked a net profit of ₹80.08 crore in the year-ago period, Reliance Infrastructure said in a filing to BSE.

Total income from operations rose to ₹4,281.45 crore compared to ₹4,010.59 crore in the corresponding quarter of the previous fiscal year. Total expenses during the quarter under review dropped to ₹4,828 crore from ₹4,950.69 crore.

The Supreme Court of India on January 24, 2022, directed the Delhi High Court (DHC) not to further delay the execution of an award of more than ₹7,200 crore payable by the Delhi Metro Rail Corporation (DMRC) to Delhi Metro Airport Express Private Limited (DMAEPL) – a consortium headed by Reliance Infrastructure Limited (RInfra) which operated the Delhi Airport Metro Express till 2012.

DAMEPL approached the Delhi high court on September 12, 2021. for the execution of the award passed by the arbitration court but complained of delaying tactics by Delhi Metro Rail Corporation Limited (DMRC). On eight occasions, the petition was listed and on January 11, 2022, the Delhi High Court posted the matter to March 29, 2022. The DAMEPL came to the Supreme Court challenging this order for delaying the execution of the award intentionally by DMRC.