Meanwhile, the S&P BSE Sensex was down 66.23 points, or 0.17% to 38,656.70

On the BSE, 13.11 lakh shares were traded in the counter so far compared with average daily volumes of 2.77 lakh shares in the past two weeks. The stock had hit a high of Rs 477.80 and a low of Rs 434.60 so far during the day. The stock hit a 52-week high of Rs 589.80 on 1 January 2018. The stock hit a 52-week low of Rs 364.25 on 16 July 2018.

Reliance Infrastructure announced the successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission. The deal was announced in December 2017 with the signing of a definitive binding agreement between Reliance Infrastructure and Adani Transmission, and has now been completed with transfer of shares and receipt of sale consideration. The total transaction value is Rs 18800 crore.

Reliance Infrastructure has reduced debt liabilities by Rs 13800 crore from the deal proceeds. Regulatory Assets under Approval of Rs 5000 crore will flow entirely to Reliance Infrastructure making the company debt-free in 2019.

On a consolidated basis, net profit of Reliance Infrastructure fell 8.39% to Rs 293.80 crore on 3.46% rise in net sales to Rs 7539.81 crore in Q1 June 2018 over Q1 June 2017.

Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the Infrastructure space and the defence sector.