REC trades in green as its arm hands over Rajgarh Transmission to G R Infraprojects
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REC is currently trading at Rs. 119.45, up by 0.50 points or 0.42% from its previous closing of Rs. 118.95 on the BSE.
The scrip opened at Rs. 118.65 and has touched a high and low of Rs. 119.45 and Rs. 118.65 respectively. So far 19024 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. 113.40 on 16-May-2022.
Last one week high and low of the scrip stood at Rs. 121.45 and Rs. 118.50 respectively. The current market cap of the company is Rs. 23501.52 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 33.70% and 13.66% respectively.
REC’s subsidiary REC Power Development and Consultancy (RECPDCL) has handed over Rajgarh Transmission to G R Infraprojects. Rajgarh Transmission is a Special Purpose Vehicle (SPV) which was formed for the construction of transmission projects in Rajgarh and Madhya Pradesh.
The SPV was formed for construction of transmission project viz. transmission system for evacuation of power from RE projects in Rajgarh (2,500 MW) SEZ in Madhya Pradesh. G R Infraprojects was the successful bidder of the inter-state transmission project of the power ministry.
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.
