Reliance Infra sells Reliance Centre in Mumbai to Yes Bank for Rs 1,200 crore; stock up 9%
Reliance Infrastructure touched a 52-week high of Rs 44.70 and a 52-week low of Rs 9.75 on 03 July, 2020 and 31 March, 2020, respectively.
April 01, 2021 / 11:47 AM IST
Reliance Infrastructure share price added more than 9 percent intraday on April 1 after the company sold Reliance Centre in Mumbai to YES Bank for a consideration of Rs 1,200 crore.
"Reliance Infrastructure and YES Bank announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank," the company said in a press release to the exchanges.
Entire proceeds from the sale are to be utilised to repay the debt of YES Bank, said Reliance Infrastructure.
At 11:21 hrs, Reliance Infrastructure was quoting Rs 37.90, up Rs 2.85, or 8.13 percent and Yes Bank was quoting Rs 15.55, down Rs 0.05, or 0.32 percent on the BSE.
Reliance Infrastructure touched a 52-week high of Rs 44.70 and a 52-week low of Rs 9.75 on 03 July 2020 and 31 March 2020, respectively.
Currently, Reliance Infrastructure is trading 15.21 percent below its 52-week high and 288.72 percent above its 52-week low.