Stock Market News: Public sector company REC Ltd (REC Ltd share price) reported a year-on-year increase of 24.17 per cent in the April-June quarter of FY 2024-25 to Rs. 1,12,747 crores of loans have been sanctioned. In a disclosure to the stock market, the company said it had sanctioned loans worth Rs 90,797 crore in the same period a year ago. Year-on-year loan disbursement increased by 27.89 percent to Rs. 43,652 crore has happened. Today, the company’s shares have seen a rise of 5 percent.
Shares of the company jumped 9%, hitting a 52-week high, after getting a big job from the railways.
Shares of BSE company Rs. opened at 530.15. At one point, the company’s shares jumped 5 percent to Rs. 552.95 was reached. The company’s 52-week high is Rs 607.65. The company’s 52-week low is Rs 159.15.
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The company is under the Ministry of Electricity
For renewable energy projects in the April-June quarter of FY 2024-25, Rs. 39,655 crore was sanctioned, which is 58.72 percent higher than the same quarter last year. Disbursement of loan Rs. 1,534 crore doubled to Rs. 5,351 crore has been done. REC is a Non-Banking Financial Company (NBFC) under the Ministry of Power. It focuses on financing the power sector in India.
Money doubles in 1 year
In the last one year, the share price of the company has seen an increase of 234 percent. In 6 months, the share price of this public has increased by 33.40 percent. According to Trendlyne data, the stock price has gained 22.10 percent in the last 3 months.
Power Finance Corporation Limited holds 52.60 percent stake in the company. Public holds 11.96 percent stake in this company. The share of foreign investors is 19.91 percent. The share of mutual funds in the company is 9.48 percent.
(with agency inputs)