REC Ltd.

State-run Rural Electrification Corporation (REC) is planning to raise Rs 1,000 - 2,000 crore via 10-year bonds. The company will borrow it in the second week of July.

Recently, REC planed to diversify into power generation by setting up renewable energy projects with an investment of about Rs 2,800 crore in the next five years, through its subsidiary REC Power Distribution Company.

The company has reported a surge of 24.79% in its net profit to Rs 700.26 crore for the fourth quarter as compared to Rs 561.17crore for the same quarter last year. Total income has increased by 23.36% to Rs 2306.33 crore for the quarter to from Rs 1869.57 crore in the same quarter previous year.