REC gains on plan to set up four projects specific SPVs

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

05 Nov 2012 Evaluate

Rural Electrification Corporation (REC) is currently trading at Rs. 221.70, up by 1.30 points or 0.59 % from its previous closing of Rs. 220.40 on the BSE.

The scrip opened at Rs. 227.00 and has touched a high and low of Rs. 227.00 and Rs. 221.10 respectively. So far 174277 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. 142.00 on 07-Jun-2012.

Last one week high and low of the scrip stood at Rs. 227.00 and Rs. 205.70 respectively. The current market cap of the company is Rs. 22015.40 crore.

The promoters holding in the company stood at 66.80% while Institutions and Non-Institutions held 26.78% and 6.42% respectively.

Rural Electrification Corporation (REC) will be setting up four projects specific special purpose vehicles (SPVs) as a subsidiary company. For this the Ministry of Power, Government of India, has appointed REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary company of REC as bid process coordinator (BPC) for the transmission projects.

REC has received an approval for the proposal for incorporation of these four project specific SPVs as subsidiary companies of RECTPCL, which will also be subsidiaries of the company in terms of the provisions of the Companies Act, 1956.

Subsequently, these SPVs would be transferred to the respective successful bidders to be selected through tariff based competitive bidding process as transmission service provider for developing above transmission projects.

The transmission projects for which BPC has been appointed includes Baira Siul HEP - Sarna 220kV line, ATS of Unchahar TPS, Transmission System for connectivity for NCC Power Projects (1320 MW) and Transmission System required for evacuation of power from Kudgi TPS (3X800 MW in Phase-I) of NTPC.

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

355.70 -2.90 (-0.81%)

19-Jun-2026 12:05 View Price Chart

Peers

Company Name	CMP
Power Finance Corp	429.20
REC	355.70
Indian Railway Fin.	99.87
NHIT	160.00
Satin Creditcare	232.45
View more..

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