Rural Electrification Corporation rose 5.27% to Rs 311.60 at 13:39 IST on BSE on bargain hunting after the stock fell 14.04% in the preceding nine trading sessions to Rs 296 on 16 December 2014, from a recent high of Rs 344.35 on 3 December 2014.
Meanwhile, the BSE Sensex was up 6.02 points, or 0.02%, to 26,787.46.
On BSE, so far 3.43 lakh shares were traded in the counter, compared with an average volume of 3.59 lakh shares in the past one quarter.
The stock hit a high of Rs 313.95 and a low of Rs 293 so far during the day. The stock hit a 52-week high of Rs 383.35 on 7 July 2014. The stock hit a 52-week low of Rs 166.60 on 30 January 2014.
The stock had outperformed the market over the past one month till 16 December 2014, falling 2.79% compared with 4.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.94% as against Sensex's 1.09% rise.
The large-cap company has an equity capital of Rs 987.46 crore. Face value per share is Rs 10.
Rural Electrification Corporation (REC)'s net profit rose 35.11% to Rs 1500.75 crore on 19.93% increase in total income to Rs 5066.27 crore in Q2 September 2014 over Q2 September 2013.
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.
Powered by Capital Market - Live News
