REC edges higher on planning to increase loan book over two-fold to Rs 10 lakh crore by 2030
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REC is currently trading at Rs. 129.60, up by 0.10 points or 0.08% from its previous closing of Rs. 129.50 on the BSE.
The scrip opened at Rs. 129.90 and has touched a high and low of Rs. 130.45 and Rs. 127.40 respectively. So far 508633 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 140.80 on 04-May-2023 and a 52 week low of Rs. 82.28 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 137.55 and Rs. 127.40 respectively. The current market cap of the company is Rs. 33942.26 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 33.42% and 13.94% respectively.
REC is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs 3 lakh crore for renewable energy projects. This assumes significance given India's ambitious target of having 500GW of renewable energy capacity by 2030. The company's loan book is Rs 4.35 lakh crore as of March 31, 2023.
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.
