REC moves up on signing 200 million Euro loan agreement with German Bank KfW
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REC is currently trading at Rs. 406.70, up by 0.85 points or 0.21% from its previous closing of Rs. 405.85 on the BSE.
The scrip opened at Rs. 407.95 and has touched a high and low of Rs. 412.25 and Rs. 404.20 respectively. So far 335297 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 412.25 on 11-Dec-2023 and a 52 week low of Rs. 108.05 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 412.25 and Rs. 376.40 respectively. The current market cap of the company is Rs. 107356.54 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 200 million Euro loan agreement with the German Bank KfW in New Delhi. This is REC’s sixth line of credit under Indo-German Development Cooperation, which REC will utilize to re-finance investments in the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India. This occasion marks yet another significant step in REC's ongoing commitment to the reform of the distribution sector in the country.
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.
