Reliance Infrastructure Ltd arm gets favorable arbitration award of Rs. 1204 crore

Reliance Infrastructure Limited has announced that in the matter of arbitration between TK Toll Road Private Limited (TKTR), a wholly owned subsidiary of the Company and National Highway Authority of India (NHAI), in an execution petition, the Hon'ble Delhi High Court, vide order its dated 09.08.2023, received by the Company on 10.08.2023, has directed NHAI to deposit of the awarded amount along with interest total sum of ~ Rs. 1204 crore with the Delhi High Court and allowed TKTR to withdraw the same against the Bank Guarantee. The amount will be utilized for debt reduction.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 176.30 as compared to the previous close of Rs. 191.95. The total number of shares traded during the day was 501748 in over 13371 trades.

The stock hit an intraday high of Rs. 193.90 and intraday low of 172.30. The net turnover during the day was Rs. 91611371.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 RELINFRA ArbitrationAward NHAI TKTollRoad DebtReduction