REC Ltd.

Rural Electrification Corporation is currently trading at Rs. 247.65, up by 6.20 points or 2.57% from its previous closing of Rs. 241.45 on the BSE.

The scrip opened at Rs. 243.00 and has touched a high and low of Rs. 248.40 and Rs. 241.20 respectively. So far 353931 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.85 on 07-Apr-2011 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. 248.40 and Rs. 217.00 respectively. The current market cap of the company is Rs. 24094.00 crore.

The promoters holding in the company stood at 66.80% while Institutions and Non-Institutions held 24.84% and 8.37% respectively.

Rural Electrification Corporation (REC) has received its board’s approval for draft prospectus in respect of public issue of Tax Free Secured Redeemable Non-convertible Bonds of face value of Rs 1,000 each, in the nature of debentures, during the financial year 2011-12, aggregating to Rs 1,500 crore with an option to retain over subscription up to a total amount of Rs 3,000 crore pursuant to the provisions of the applicable statutory guidelines. The company has received the approval for the same on February 16, 2012.

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.