Refund order may lift Reliance Infrastructure

Shares of Reliance Infrastructure Ltd (RIL) may see buying interest, as the Supreme Court has allowed refund of the money Reliance Energy has been depositing with the Court’s registry in the ongoing legal tussle over hike in fares of Mumbai Metro. RIL, which owns Reliance Energy, leads the consortium that operates the metro services in Mumbai. The Court in March had allowed RIL to collect the fare, but asked it to deposit 50 per cent of the variable amount to the registry on a weekly basis.