Reliance Infrastructure Ltd clarifies on media reports related to ED survey under FEMA

Reliance Infrastructure Limited ("Reliance Infrastructure”) clarifies certain media reports regarding survey by the ED under FEMA in relation to a matter dating back 15 years.

In 2010, the Company had awarded an EPC contract for the construction of the JR Toll Road (Jaipur-Ringus Highway) to Prakash Asphaltings & Toll Highways. This was a domestic contract with no foreign exchange involved.

The work was completed, and the Company has no continuing connection or relationship with the said contractor. The Toll Road is with NHAI for last 4 years.

The Company and its officials are fully cooperating, as always.

This action has absolutely no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the Company.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 242.15 as compared to the previous close of Rs. 247.25. The total number of shares traded during the day was 53235 in over 1072 trades.

The stock hit an intraday high of Rs. 251.80 and intraday low of 240.30. The net turnover during the day was Rs. 12990261.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 RELINFRA MediaReports Clarification EDSurvey FEMA