REC jumps on getting nod to sell Rajgarh Transmission to G R Infraprojects
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REC is currently trading at Rs. 128.95, up by 1.45 points or 1.14% from its previous closing of Rs. 127.50 on the BSE.
The scrip opened at Rs. 128.85 and has touched a high and low of Rs. 129.70 and Rs. 128.05 respectively. So far 62295 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 168.70 on 18-Oct-2021 and a 52 week low of Rs. 116.65 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 129.70 and Rs. 125.55 respectively. The current market cap of the company is Rs. 25466.57 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 33.70% and 13.66% respectively.
REC has received approval for sale and transfer of Rajgarh Transmission to G R Infraprojects, the successful bidder selected through Tariff Based Competitive Bidding process. The process for sale and transfer to the successful bidder is expected to complete in the financial year 2022-23. The Board of Directors of the company at their meeting held on April 27, 2022, approved the same.
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.
