REC slips after muted Q2 numbers

Rural Electrification Corporation fell 1.38% to Rs 235.30 at 15:15 IST on BSE after net profit rose 7.64% to Rs 1619.19 crore on 16.94% increase in total income to Rs 5924.73 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during trading hours today, 9 November 2015.

Meanwhile, the BSE Sensex was down 150.24 points, or 0.57%, to 26,115.

On BSE, so far 4.41 lakh shares were traded in the counter, compared with an average volume of 2.12 lakh shares in the past one quarter.

The stock hit a high of Rs 240.50 and a low of Rs 228 so far during the day. The stock hit a 52-week high of Rs 371.05 on 4 March 2015. The stock hit a 52-week low of Rs 211.40 on 25 August 2015.

The stock had underperformed the market over the past one month till 6 November 2015, sliding 15.03% compared with 2.48% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.43% as against Sensex's 7.18% decline.

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

Rural Electrification Corporation (REC), a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects. As per shareholding pattern, Government of India holds 60.64% stake in the firm as on 30 September 2015.

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