REC gains on inking MoU with NICSI for ICT, digital transformation services
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REC is currently trading at Rs. 294.80, up by 1.75 points or 0.60% from its previous closing of Rs. 293.05 on the BSE.
The scrip opened at Rs. 295.95 and has touched a high and low of Rs. 299.10 and Rs. 292.60 respectively. So far 300610 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 299.10 on 16-Oct-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. 299.10 and Rs. 278.40 respectively. The current market cap of the company is Rs. 77482.62 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 34.50% and 12.87% respectively.
REC has signed a Memorandum of Understanding (MoU) with National Informatics Centre Services Inc. (NICSI) under National Informatics Centre (NIC), Ministry of Electronics & Information Technology, Government of India for various Information & Communications Technology (ICT) and Digital Transformation Services.
This MoU will benefit the REC ecosystem by facilitating exploration of latest technology in evolving areas like IoT, Artificial Intelligence, Machine Learning, Data Analytics, Blockchain, Cyber Security etc. This collaboration with NICSI will enable REC in providing one-stop end-to-end NIC/NICSI Software products deployment, hosting, core roll-out, technical support, security, services, system administration, etc.
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.
