Reliance Infrastructure shares traded higher on Friday, outperforming the broader market downturn. The stock rose up to 3.1% to ₹290.70 on the BSE, even as benchmark indices saw significant declines — the BSE Sensex dropped nearly 600 points and the NSE Nifty 50 slipped below the 24,500 mark.
The uptick in Reliance Infra came after its subsidiaries, BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, received approval to recover ₹21,413 crore in regulatory assets over the next four years. On August 6, the Supreme Court ordered that regulatory assets totaling ₹27,200.37 crore, including carrying costs, be recovered by Delhi’s three private discoms within three years.
As of March 31, 2024, regulatory assets stood at ₹12,993.53 crore for BRPL, ₹8,419.14 crore for BYPL, and ₹5,787.70 crore for Tata Power Delhi Distribution Ltd. The verdict resolved long-standing legal disputes dating back to 2014, involving cost-reflective tariffs and delays in asset recovery.
The court outlined 10 key principles and issued nine binding directions, instructing complete liquidation of these assets within four years from April 2024. APTEL has been assigned to ensure compliance.
Despite recent volatility, Reliance Infra has delivered a 900% return over five years.
