Reliance Infrastructure's JV Mumbai Metro Wins major Arbitration

Reliance Infrastructure's joint venture with Mumbai Metropolitan Regional Development Authority (MMRDA), Mumbai Metro One Private Limited receives an arbitral award in the matter of arbitration between MMOPL and MMRDA, the company announced through an exchange filing.

According to the regulatory filing, the first is in favour of MMOPL for Rs 992 crore and the second award is against MMOPL for Rs 103 crore including interest till date.

Reliance Infrastructure holds 74 per cent stake in Mumbai Metro One Private Limited that operates the metro line between Versova- Andheri - Ghatkopar corridor in Mumbai.

Reliance Industries AGM

Reliance Industries Limited's (RIL) 46th annual general meeting (AGM) was held on Monday through video-conferencing. Mukesh Ambani, MD and Chairman, RIL, addressed the AGM, along with Isha and Akash, who held official positions in the conglomerate. Mukesh Ambani during the meet said, "I am delighted to report yet another year of stellar all-round performance. Reliance’s consolidated revenues stood at Rs 9,74,864 crore. Reliance’s EBITDA for FY23 was Rs 1,53,920 crore, while the net profit was Rs 73,670 crore."

Reliance Infrastructure shares

The shares of Reliance Infrastructure on Wednesday morning at 10:26 am were trading at Rs 188, up by 1.90 per cent.