REC inches up after strong Q3 results

The company announced Q3 results after market hours on Monday, 4 February 2013.

Meanwhile, the BSE Sensex was down 104.31 points or 0.53% at 19,646.88.

On BSE, 4.56 lakh shares were traded in the counter as against average daily volume of 1.79 lakh shares in the past one quarter.

The stock hit a high of Rs 252.45 and a low of Rs 243.65 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 underperformed the market over the past one month till 4 February 2013, sliding 6.5% compared with the Sensex's 0.17% fall. The scrip had, however, outperformed the market in past one quarter, surging 12.5% as against Sensex's 5.31% 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) board of directors at a meeting held on Monday, 4 February 2013, declared interim dividend of Rs 6.75 per share for the year ending 31 March 2013.

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 holds 66.8% stake in REC (as per the shareholding pattern as on 31 December 2012).

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