Reliance Power Shares Hit Lower Circuit

Shares of Reliance Power Ltd. slumped 5% and were locked in the lower circuit on Monday. It is among the roughly 500 stocks on BSE that hit their respective lower circuit limits during the day.

Indian benchmark stock indices plunged, tracking the fall in other Asian indices. Globally, the markets fell in the wake of unwinding in yen carry trades and on fears of US recession after weaker than expected jobs data for July.

Reliance Power stock fell as much as 5.01% during the day to Rs 32.81 apiece on the NSE. It was trading 4.95% lower at Rs 32.83 apiece, compared to a 1.71% decline in the benchmark Nifty 50 as of 11:32 a.m.

The stock has risen 76.35% in the last 12 months and 41.2% year-to-date. Total traded volume so far in the day stood at 8 times its 30-day average. The relative strength index was at 65.42.