Shares of Reliance Infra surged as much as 6.8 per cent, their highest since August 9, as the company plans to sell Mumbai power business.
Renewable energy firm Greenko is in talks to buy Reliance Infrastructure’s Mumbai electricity business for Rs. 10,000-13,000 crore ($1.56-$2.03 bln), a media report said, citing unnamed people aware of the discussions.
Reliance Infrastructure did not respond to an email sent by Reuters, while Greenko was not immediately available for comment.
Up to Monday’s close, the stock had risen 3.5 per cent this year.