REC shines on inking MoU with PMI Electro Mobility
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REC is currently trading at Rs. 173.40, up by 11.55 points or 7.14% from its previous closing of Rs. 161.85 on the BSE.
The scrip opened at Rs. 162.05 and has touched a high and low of Rs. 173.95 and Rs. 162.05 respectively. So far 1747614 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 173.95 on 24-Jul-2023 and a 52 week low of Rs. 91.00 on 17-Oct-2022.
Last one week high and low of the scrip stood at Rs. 173.95 and Rs. 159.15 respectively. The current market cap of the company is Rs. 45344.12 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 33.96% and 13.41% respectively.
REC has inked a memorandum of understanding (MoU) with electric commercial vehicles manufacturer PMI Electro Mobility to provide finance for commercial EVs. As a part of the MoU, PMI will have the ability to avail Rs 480 crore of financial assistance from REC in the form of debt for funding requirements.
The ‘Green Finance’ Summit hosted by REC, in conjunction with the Indian Government's G20 Presidency, presented a unique platform for industry leaders, policymakers and stakeholders to collaborate and forge meaningful partnerships that advance the nation's transition towards clean energy and green mobility.
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.
