BUSINESS

RInfra Crosses Rs 100 Mark After a Two Year Gap

Reliance Infrastructure (RInfra) hit an over two-year high of Rs 105.90, up 5 per cent on the BSE in intra-day trade on Friday. The stock of the electric utility company was quoting at its highest level since May 30, 2019, and crossed the Rs 100-mark after a gap of over two years.

In the past one month, the stock of RInfra has rallied 105 per cent, as compared to a 1 per cent decline in the S&P BSE Sensex. In the last two months, it has zoomed 221 per cent as against a 9 per cent rise in the benchmark index. The stock had hit an all-time low of Rs 8.65 in March 2020 and a record high of Rs 2,632 in January 2008.

This company is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defense sector.

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