Reliance Infra shares: Anil Ambani’s Reliance Infra jumps 5% as SC upholds arbitration award

MUMBAI: Shares of , a part of Anil Ambani’s Reliance Group, hit its higher circuit restrict of 5 per cent to Rs 74.20 immediately after the Supreme Court docket upheld the arbitration award received by the corporate in opposition to the Delhi Metro Rail Company.

The corporate had received an arbitration award of Rs 4,600 crore together with curiosity accrued. The Supreme Court docket’s verdict will deliver the much-needed reduction to the debt-laden group as it may possibly make the most of the proceeds for reimbursement of its present debt.

Reliance Infra had received an arbitration case in opposition to DMRC after operating into dispute over the operation of the Airport metro route in Delhi that was constructed and operated by the corporate.

Reliance Infra at the moment has a consolidated debt of Rs 14,260 crore and web debt of Rs 3,808 crore. The corporate has lately hinted at efforts to turn into debt free by March 2022.

In July, The Hindu BusinessLine had reported that the corporate is in talks with Brookfield, Apollo International and CDPQ to promote its Pune-Satara toll street.


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