RECL hits new high on 73% jump in Q1 net

The scrip surged to a high of Rs 204 and ended at its all-time new high of Rs 202, up around 8% from the previous close. The counter has clocked volumes of 1.67 million shares as compared to the two-week daily average traded volumes of 566,835 shares on the BSE. The stock has rallied 17% in this week.
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(Updated at 1126hrs)

Rural Electrification Corporation (RECL) has surged to a new high on good performance in the first quarter of FY10.

The stock opened at Rs 190 and slipped marginally to touch a low of Rs 189. The stock surged 4% to touch a new high of Rs 195. It is now off the day's high and is trading at Rs 194 - up 3%. Over 358,425 shares have been traded on the counter so far.

The stock has been gaining for the last six trading sessions and rallied 5% to close at Rs 188, yesterday. The stock has, in the process, moved up 12% in the past week.

According to a release issued by the company to the BSE, net profit has jumped 3% to Rs 471.82 crore in Q1FY10 from Rs 272.56 crore in the corresponding quarter in the previous fiscal. Total income is up 48% at Rs 1,508.90 crore from Rs 1,022.78 crore.