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R Power stock up 6 percent on $5 Billion deal with U.S. Exim Bank
Monday, 08 November 2010, 19:47 IST
Mumbai: Reliance Power today jumped over six percent in the early trade on the BSE, buoyed by the company's announcement to secure $5 billion (nearly 
22,000 crore) funds from the U.S. Export Import Bank for gas-based and renewable energy projects.
Shares of Anil Ambani-led power giant soared by 6.27 percent to hit a month-high of 175.40 in the start of the session on the Bombay Stock Exchange .
Witnessing a similar movement on the National Stock Exchange , the scrip climbed 6.12 percent to 175 in the morning trade.
Meanwhile, the BSE-30 benchmark Sensex was trading weak at 20,897.80, down 107.16 points from previous close.
Under the $5 billion deal, which coincides with the three-day visit of U.S. President Barack Obama to India, Exim Bank will make available up to $5 billion in support of purchases of U.S. goods and services for RPower's various projects totalling about 9,000 MW.
On Saturday, RPower had also announced a deal in the presence of Obama to procure equipment worth about 10,000 crore from General Electric and other U.S. companies for its various power and coal mining projects.
Source: PTI
22,000 crore) funds from the U.S. Export Import Bank for gas-based and renewable energy projects.
Shares of Anil Ambani-led power giant soared by 6.27 percent to hit a month-high of 175.40 in the start of the session on the Bombay Stock Exchange .
Witnessing a similar movement on the National Stock Exchange , the scrip climbed 6.12 percent to 175 in the morning trade.
Meanwhile, the BSE-30 benchmark Sensex was trading weak at 20,897.80, down 107.16 points from previous close.
Under the $5 billion deal, which coincides with the three-day visit of U.S. President Barack Obama to India, Exim Bank will make available up to $5 billion in support of purchases of U.S. goods and services for RPower's various projects totalling about 9,000 MW.
On Saturday, RPower had also announced a deal in the presence of Obama to procure equipment worth about 10,000 crore from General Electric and other U.S. companies for its various power and coal mining projects.
Source: PTI