REC Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

Of the loan sanctioned, Rs 1,36,516 crore were renewable energy sanctions in FY24, steeply higher than Rs 21,371 crore reported in the same period a year ago.

The company also achieved its highest ever loan disbursements at Rs 1,61,462 crore in FY24, recording a growth of 66.72% year on year.

Loan Book stood grew by 17.13% to Rs 5,09,545 crore in FY24 from Rs 4,35,012 crore posted in FY23.

REC is a government-owned infrastructure finance company in India. They fund projects in power (including new technologies) and non-power sectors (roads, metro, IT, etc.) for both government and private companies.

On a consolidated basis, net profit of REC rose 13.48% to Rs 3,308.42 crore on 23.2% rise in total income to Rs 12,071.54 crore in Q3 December 2023 over Q3 December 2022.

Shares of REC slipped 3.78% to Rs 453.85 on the BSE.

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REC Ltd gained for a fifth straight session today. The stock is quoting at Rs 475.9, up 0.39% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.15% on the day, quoting at 22467.75. The Sensex is at 74089.06, up 0.29%. REC Ltd has risen around 2.36% in last one month.

Meanwhile, Nifty Financial Services index of which REC Ltd is a constituent, has risen around 2.55% in last one month and is currently quoting at 21197.25, up 0.89% on the day. The volume in the stock stood at 53.05 lakh shares today, compared to the daily average of 159.98 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 477.7, up 0.13% on the day. REC Ltd is up 304.33% in last one year as compared to a 27.97% spurt in NIFTY and a 16.4% spurt in the Nifty Financial Services index.

The PE of the stock is 9.13 based on TTM earnings ending December 23.

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REC announced that its wholly owned subsidiary, REC Power Development & Consultancy has incorporated a wholly owned subsidiary named ERES-XXXIX Power Transmission. The new company will develop transmission system for Eastern Region Expansion Scheme XXXIX.

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REC will hold a meeting of the Board of Directors of the Company on 27 March 2024.

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