REC Ltd gained for a third straight session today. The stock is quoting at Rs 146.25, up 2.31% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.72% on the day, quoting at 12025.75. The Sensex is at 40761.61, up 0.72%. REC Ltd has gained around 9.3% in last one month.

Meanwhile, Nifty Financial Services index of which REC Ltd is a constituent, has gained around 5.2% in last one month and is currently quoting at 14008.9, up 0.21% on the day. The volume in the stock stood at 48.58 lakh shares today, compared to the daily average of 47.25 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 146.2, up 2.09% on the day. REC Ltd is up 17.28% in last one year as compared to a 13.45% jump in NIFTY and a 26.61% jump in the Nifty Financial Services index.

The PE of the stock is 5.29 based on TTM earnings ending September 19.

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REC announced that the entire shareholding of REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary of REC in Lakadia Banaskantha Transco & Jam Khambaliya Transco, comprising of 50,000 equity shares, have been transferred along with all its assets andliabilities on 13 November 2019, to Adani Transmission, the successful bidder selected through Tariff Based Competitive Bidding Process for “Transmission system associated with RE generations at Bhuj -II, Dwarka & Lakadia” and “Jam Khambaliya Pooling Station andInterconnection of Jam Khambaliya Pooling Station for providing connectivity to RE projects (1500 MW)in Dwarka (Gujarat) & Installation of 400/220 kV ICT along with associated bays at CGPL Switchyard” respectively

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REC announced that A Krishna Kumar and T T Ram Mohan have ceased to be Independent Directors of the company with effect from 13 November 2019.

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Net profit of REC declined 23.68% to Rs 1322.47 crore in the quarter ended September 2019 as against Rs 1732.75 crore during the previous quarter ended September 2018. Sales rose 19.96% to Rs 7477.56 crore in the quarter ended September 2019 as against Rs 6233.58 crore during the previous quarter ended September 2018.

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