RNRL tanks 27 per cent post merger

The boards of both companies, on Sunday, approved the merger of RNRL with Reliance Power in an all-stock deal with an exchange ratio of one equity share of R-Power for four shares of RNRL.

Shares of RNRL plunged 27.26 per cent to close at Rs 46.30 on the Bombay Stock Exchange. The scrip touched a-month low of Rs 45.50, down 28.51 per cent during the day. On the contrary, shares of Reliance Power remained strong even in a volatile market to surge to a 52-week high of Rs 189.80, up 8.36 per cent. The stock, however, pared the early rally and closed at Rs 181.40, up 3.57 per cent.

DH Newsletter Privacy Policy Get top news in your inbox daily
Comments (+)