REC inches up on executing share purchase agreement between RECTPCL, VTSL and PGCIL

REC Ltd. | Finance Term Lending | BFSI | BSE: 532955 | NSE: RECLTD

19 Apr 2012 Evaluate

Rural Electrification Corporation (REC) is currently trading at Rs. 232.75, up by 0.45 points or 0.19% from its previous closing of Rs. 232.30 on the BSE.

The scrip opened at Rs. 234.50 and has touched a high and low of Rs. 234.80 and Rs. 232.30 respectively. So far 54,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 251.40 on 17-Feb-2012 and a 52 week low of Rs. 143.50 on 28-Dec-2011.

Last one week high and low of the scrip stood at Rs. 236.90 and Rs. 215.85 respectively. The current market cap of the company is Rs. 22,983.00 crore.

The promoters holding in the company stood at 66.80% while Institutions and Non-Institutions held 25.92% and 7.28% respectively.

Rural Electrification Corporation has executed the share purchase agreement (SPA) on April 18, 2012 between RECTPCL, VTSL and PGCIL for establishment of transmission system associated with IPPs of Vemagiri Area- Package A- Vemagiri Pooling Station-Khammam 765 kV 1xD/c (1st ckt.) line and Khamam - Hyderabad 765 kV D/C (1st ckt.) line.

Pursuant to execution of agreement, RECTPCL has received an acquisition price of Rs 18.27 crore from PGCIL towards acquisition of VTSL along with its all assets and liabilities.

Earlier, after approval of the Ministry of Power, 50,000 equity shares of Vemagiri Transmission System (VTSL), which were held by REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary company of REC and its nominees, were transferred along with all assets and liabilities of the company (VTSL) to Power Grid Corporation of India (PGCIL) and their nominees, substantially upon the terms and conditions as detailed in the share purchase agreement.

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

354.35 -9.25 (-2.54%)

30-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Power Finance Corp	448.15
REC	354.35
Indian Railway Fin.	104.14
NHIT	160.00
Satin Creditcare	176.05
View more..

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