REC zooms after it designated as implementation agency for rooftop solar programme
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REC is currently trading at Rs. 437.30, up by 12.10 points or 2.85% from its previous closing of Rs. 425.20 on the BSE.
The scrip opened at Rs. 433.00 and has touched a high and low of Rs. 437.30 and Rs. 429.30 respectively. So far 368295 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 454.80 on 14-Dec-2023 and a 52 week low of Rs. 110.50 on 14-Feb-2023.
Last one week high and low of the scrip stood at Rs. 447.75 and Rs. 411.50 respectively. The current market cap of the company is Rs. 114545.24 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 34.80% and 12.56% respectively.
REC has been designated as the overall Programme Implementation Agency by Ministry of New and Renewable Energy, Government of India (MNRE) for Rooftop Solar (RTS) programme of the Ministry and also entrusted with the responsibility for execution of the programme/scheme prepared by MNRE and for coordination with all stakeholders, across the country, with an objective to achieve the cumulative capacity of 40,000 MW from RTS by the year 2026.
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.
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