Reliance Power shares fall after US Exim insolvency plea
after close1 source ↓written by the desknot a recommendation
- to ₹28.64
- 1.21%
Shares of Reliance Power fell 1.21% to ₹28.64 after the Export-Import Bank of the United States filed an insolvency application over a USD 165.41 million debt default by its subsidiary, Samalkot Power Ltd. The company contends the application is legally untenable and has initiated arbitration proceedings against US Exim and Citibank N.A. ⚖️
This development raises concerns about the financial stability of Reliance Power and may impact investor sentiment in the near term.
Not investment advice. For informational purposes only.