As per reports, a two-judge panel of the Supreme Court has upheld an arbitration award from 2017 in favour of Reliance Infra. The stock was locked at its 5% upper circuit today.
As per the company, the award is worth over ₹4,660 crore including interest. It will use the proceeds to repay lenders, after which they are likely to be removed from the category of non-performing-assets.