REC trades in green on partnering with CEEW to improve performance of discoms

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

08 Jul 2022 Evaluate

REC is currently trading at Rs. 130.75, up by 0.80 points or 0.62% from its previous closing of Rs. 129.95 on the BSE.

The scrip opened at Rs. 130.20 and has touched a high and low of Rs. 131.20 and Rs. 129.80 respectively. So far 272694 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 168.70 on 18-Oct-2021 and a 52 week low of Rs. 109.70 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 131.20 and Rs. 125.70 respectively. The current market cap of the company is Rs. 25752.93 crore.

The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 33.70% and 13.66% respectively.

REC has signed a Memorandum of Understanding (MoU) with Council on Energy, Environment and Water (CEEW) to collaborate on activities to improve the operational and financial sustainability of discoms through holistic deployment of smart meters, strengthening of power distribution networks and improved quality of service for electricity consumers.

Under this partnership, in addition to providing research and evaluation support, CEEW will collaborate with REC to conduct primary and secondary research to help discoms in their efforts to deploy smart meter. CEEW’s research will also help to leverage smart metering infrastructure for improved service delivery and ensure a positive consumer experience.

The MoU will enable the parties to study the best practices and regulations concerning the operation, management and use of smart metering infrastructure. The parties will also work together to implement and evaluate innovative strategies to improve operational efficiencies and financial sustainability of discoms.

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.

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
View more..

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