Delhi HC asks to maintain status quo on SECI's proposed termination of PPA with Reliance NU Suntech Pvt Ltd

Reliance NU Suntech Private Limited, a subsidiary of Reliance Power Limited had challenged the notice issued by Solar Energy Corporation of India Limited in High Court of Delhi seeking a stay on the proposed termination of its power purchase agreement.

The Hon'ble High Court of Delhi was pleased to grant the maintenance of status quo between parties and has restrained Solar Energy Corporation of India Limited from taking any coercive actions.

Shares of Reliance Power Limited was last trading in BSE at Rs. 65.11 as compared to the previous close of Rs. 65.29. The total number of shares traded during the day was 2784913 in over 11059 trades.

The stock hit an intraday high of Rs. 66.75 and intraday low of 64.51. The net turnover during the day was Rs. 183058056.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RPOWER RelianceNUSuntech Termination PPA SECI