REC gains after good Q4 results

The Q4 result was announced after market hours on Tuesday, 28 May 2013.

Meanwhile, the S&P BSE Sensex was down 76.22 points or 0.38% at 20,084.60.

On BSE, 1.65 lakh shares were traded in the counter as against average daily volume of 2.09 lakh shares in the past one quarter.

The stock hit a high of Rs 234.50 and a low of Rs 227.60 so far during the day. The stock had hit a 52-week high of Rs 267.50 on 4 January 2013. The stock had hit a 52-week low of Rs 142 on 7 June 2012.

The stock had outperformed the market over the past one month till 28 May 2013, surging 6.37% compared with the Sensex's 4.53% rise. The scrip had, however, underperformed the market in past one quarter, rising 1.23% as against Sensex's 6.89% gain.

The large-cap state-run company has equity capital of Rs 987.46 crore. Face value per share is Rs 10.

Rural Electrification Corporation's (REC) net profit surged 35.5% to Rs 3817.62 crore on 29.4% growth in total income to Rs 13598.67 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

REC's consolidated net profit jumped 35% to Rs 3832.78 crore on 29.2% growth in total income to Rs 13636.58 crore in FY 2013 over FY 2012.

REC's main objective is to finance and promote rural electrification projects all over the country. The company provides financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them. The Government of India owns 66.8% stake in REC (as per the shareholding pattern as on 31 March 2013).

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