NEW DELHI: Extending the robust gains of the previous session, shares of Reliance InfrastructureNSE -4.59 % surged 8 per cent in morning trade on Thursday after the company bagged a project from Maharashtra State Road Development Corporation (MSRDC).
The company on Wednesday said it had bagged Rs 7,000 crore Versova-Bandra Sea Link project from MSRDC. The 17.17 km long sea link is three times the length of the Bandra-Worli Sea Link.
"Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019, as per the contract," the company said in a BSE filing.
The rating firm said Reliance Infra had not co-operated with it in giving disclosures about the status of the company’s debt. In a statement on Tuesday, CARE said it reviewed the ratings on the basis of “the best available information” which, however, in its opinion “is not sufficient to arrive at a fair rating”.
Last week, rating agency India Ratings had downgraded Reliance Infrastructure's long-term issuer rating to 'D - Issuer Not Cooperating'.
The stock traded 5.91 per cent up at Rs 64.55 on BSE around 9:30 am.
The company on Wednesday said it had bagged Rs 7,000 crore Versova-Bandra Sea Link project from MSRDC. The 17.17 km long sea link is three times the length of the Bandra-Worli Sea Link.
"Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019, as per the contract," the company said in a BSE filing.
The rating firm said Reliance Infra had not co-operated with it in giving disclosures about the status of the company’s debt. In a statement on Tuesday, CARE said it reviewed the ratings on the basis of “the best available information” which, however, in its opinion “is not sufficient to arrive at a fair rating”.
Last week, rating agency India Ratings had downgraded Reliance Infrastructure's long-term issuer rating to 'D - Issuer Not Cooperating'.
The stock traded 5.91 per cent up at Rs 64.55 on BSE around 9:30 am.
0 Comments