REC Ltd, formerly known as Rural Electrification Corporation Ltd, is an Indian public infrastructure finance company. It finances and promotes power projects across the country. Its date of incorporation is 25 July 1969, and the headquarters are based in New Delhi. The company’s net sales for the March 2022 quarter were Rs. 9,633.37 crore. They were up 4.58% from the net sales of the same quarter the previous year. The company’s market capitalisation on 16 June 2022 stood at Rs. 22,128 crore.
The company’s code for listing on the Bombay Stock Exchange is 532955 and on the National Stock Exchange is RECLTD. REC Ltd was listed for trading on the exchanges on 12 March 2008.
REC Ltd is a public sector undertaking. It is a Navratna company and operates under the purview of the Ministry of Power. Its product portfolio includes finance for rural electrification projects and loans to State Electricity Boards, NGOs, Central/State Sector Power Utilities, Rural Electric Cooperatives, and Private Power Developers. The company also provides loan products for financing Renewable Energy projects.
REC Transmission Projects Company Limited (RECTPCL) and REC Power Distribution Company Limited (RECPDCL) are the subsidiaries of REC Ltd.
The key people in the company’s management include Shri Vivek Kumar Dewangan as Chairman & Managing Director and Shri Ajoy Choudhary as Director (Finance). The other board members include Shri Vishal Kapoor, Smt Durgesh Nandini, Smt Parminder Chopra, Dr Manoj M. Pande, and Dr Gambheer Singh. The auditors are OP Bagla & Co. LLP and SK Mittal & Co.
When it comes to REC Ltd.’s share price, on 16 June 2022, REC’s share price on NSE was Rs. 112.05, and REC Ltd.’s share price on BSE was Rs. 112.10. The 52-week high for REC Limited’s share price was Rs. 168.70, and the 52-week low for REC’s share price was Rs. 113.40.
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