REC climbs as its arm incorporates two wholly owned subsidiaries
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REC is currently trading at Rs. 514.60, up by 13.50 points or 2.69% from its previous closing of Rs. 501.10 on the BSE.
The scrip opened at Rs. 509.00 and has touched a high and low of Rs. 517.50 and Rs. 508.30 respectively. So far 166817 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. 331.85 on 28-Nov-2023.
Last one week high and low of the scrip stood at Rs. 519.35 and Rs. 495.45 respectively. The current market cap of the company is Rs. 131950.85 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 and Consultancy has incorporated two wholly owned subsidiaries by name ‘WRNES Talegaon Power Transmission’ and ‘Khavda V-BIB2 Power Transmission’.
WRNES Talegaon Power Transmission has been incorporated on November 16, 2024 (Certificate of Incorporation was received on November 18, 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. The company has been incorporated for Transmission scheme for Network Expansion scheme in Western Region to cater to Pumped storage potential near Talegaon (Pune).
