Reliance Infra's JV Mumbai Metro One Pvt Ltd wins major arbitration award

Mumbai Metro One Private Limited (MMOPL), a joint venture of Reliance Infrastructure Limited with Mumbai Metropolitan Regional Development Authority (MMRDA) (where the Company holds 74% and MMRDA holds 26%), operating the Metro Line between Versova - Andheri - Ghatkopar Corridor in Mumbai, is in receipt of the Arbitral Award in the matter of arbitration between MMOPL and MMRDA for various disputes. Award # 1 is in favour of MMOPL for Rs. 992 crore & Award # 2 is against MMOPL for Rs. 103 crore including interest till date.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 184.00 as compared to the previous close of Rs. 178.05. The total number of shares traded during the day was 173780 in over 1701 trades.

The stock hit an intraday high of Rs. 185.00 and intraday low of 175.60. The net turnover during the day was Rs. 31572260.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 MumbaiMetroOne ArbitralAward MMRDA JV