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Nomura maintains neutral on Reliance Power
Nomura says, Reliance Power's reported net profit for Q1 was 6 per cent higher than its estimates, but operating expenses and fuel costs surprised negatively. At current market price the stock trades at 0.6 times its FY16 estimated book value of Rs 77 and 11.9 times its estimated earnings per share of Rs 3.8, the brokerage added.