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REC rises on receiving shareholders' approval to raise up to Rs 42,000 crore

21 Sep 2015 Evaluate

REC is currently trading at Rs. 268.50, up by 6.00 points or 2.29% from its previous closing of Rs. 262.50 on the BSE.

The scrip opened at Rs. 262.50 and has touched a high and low of Rs. 269.00 and Rs. 258.70 respectively. So far 70,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 371.05 on 04-Mar-2015 and a 52 week low of Rs. 211.40 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 269.00 and Rs. 245.40 respectively. The current market cap of the company is Rs. 26513.27 crore.

The promoters holding in the company stood at 60.64% while Institutions and Non-Institutions held 33.21% and 6.16% respectively.

Rural Electrification Corp (REC) has received shareholders' approval for the proposal to raise up to Rs 42,000 crore through issuance of bonds or debentures on private placement basis. The shareholders approved the proposal with requisite majority at its annual general meeting held on September 16, 2015.

The proposal will enable the company to raise funds through private placement of unsecured/secured non-convertible bonds/debentures up to Rs 42,000 crore, during a period of one year from the date of passing of this resolution, i.e. up to September 15, 2016.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.


REC Share Price

359.35 -0.35 (-0.10%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 461.00
REC 359.35
Indian Railway Fin. 106.05
NHIT 160.00
Satin Creditcare 212.55
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