Mumbai: Shares of Reliance Power on Tuesday gained nearly five per cent on the Bombay Stock Exchange, a day after the company commissioned its 1,200 MW Rosa plant in the Shahjahanpur district of Uttar Pradesh.
The company yesterday announced that the first 300-MW unit of the Rs 6,000-crore Rosa Power Project has commenced generation.
Shares of Reliance Power zoomed 6.60 per cent to a high of Rs 156.60 during intra-day trade on the BSE. The scrip settled the day with higher 4.94 per cent at Rs 154.15.
On the National Stock Exchange, Reliance Power rose 4.80 per cent to close at Rs 154.05. The scrip had surged 6.80 per cent to a high of Rs 157 during mid-session. More than a crore shares changed hands on the bourses.
Power generated from the first stage (600MW) of the Rosa plant would be supplied entirely to Uttar Pradesh Power Corporation Ltd (UPPCL) and will be fed into the grid six weeks from now.
The next stage would be two units of 300 MW each.
The coal for the project would be sourced from the Ashoka mines in Jharkhand.
The power utility, which had raised Rs 11,800 crore through an initial share sale last year, has surged 28.55 per cent so far this year, lower than returns of 80 per cent posted by the benchmark Sensex.
PTI
First Published: Tuesday, December 29, 2009, 20:23