REC gains as its arm incorporates wholly owned subsidiary

28 Oct 2024 Evaluate

REC is currently trading at Rs. 514.00, up by 4.65 points or 0.91% from its previous closing of Rs. 509.35 on the BSE.

The scrip opened at Rs. 509.05 and has touched a high and low of Rs. 532.70 and Rs. 508.85 respectively. So far 301279 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 653.90 on 12-Jul-2024 and a 52 week low of Rs. 266.60 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 548.60 and Rs. 494.75 respectively. The current market cap of the company is Rs. 134123.26 crore.

The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 35.53% and 11.84% respectively.

REC’s Wholly Owned Subsidiary-- REC Power Development & Consultancy (RECPDCL) has incorporated Wholly Owned Subsidiary (WOS) by name ‘Rajasthan V Power Transmission’ on October 25, 2024. Ministry of Power, vide gazette notification dated August 30, 2024 had allocated one transmission project, wherein RECPDCL has been appointed to act as Bid Process Coordinator (BPC) for the purpose of selection of Bidder for Transmission system for evacuation of power from Rajasthan REZ Ph-V (Part-I: 4 GW) [Sirohi/ Nagaur] Complex.

In view of the above, Rajasthan V Power Transmission has been incorporated on October 25, 2024. After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, said company would be transferred to the successful bidder along with all assets & liabilities. 

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.


REC Share Price

491.05 -25.30 (-4.90%)
21-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 453.75
REC 491.05
Indian Railway Finance 141.60
Satin Creditcare 148.05
MAS Financial Serv 277.25
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.