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    HomeNewsBusinessStocksR Power dips 3% after Madras HC seeks CBI probe into merger

    R Power dips 3% after Madras HC seeks CBI probe into merger

    Anil Dhirubhai Ambani Group company Reliance Power fell nearly 3% on Thursday after PTI reported that the Madras High Court on Wednesday admitted a petition seeking a probe by the Serious Fraud Investigation Office and the CBI into the merger of RNRL with R Power.

    June 14, 2012 / 15:16 IST

    Anil Dhirubhai Ambani Group company Reliance Power fell nearly 3% on Thursday after PTI reported that the Madras High Court on Wednesday admitted a petition seeking a probe by the Serious Fraud Investigation Office and the CBI into the merger of Reliance Natural Resources Ltd (RNRL) with Reliance Power (R-Power) alleging it caused a loss of Rs 2105.87 crore to shareholders.

    At 14:34 hours IST, the share was trading at Rs 96.50, down 2.67% after hitting an intraday high of Rs 98.95 and low of Rs 96.30.
     
    Market capitalisation of the company currently stands at Rs 27,069.47 crore.

    first published: Jun 14, 2012 03:15 pm

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