The company made the announcement on Friday afternoon, post market hours. Despite the news, shares of the company lost ~1.5% in early morning trade on Monday.
The approval has been obtained for the construction of following 5 projects:
- Transmission system strengthening for relieving over loadings observed in Gujarat Intra state system due to RE injections in Bhuj PS
- Transmission system associated with RE generations at Bhuj —Il, Dwarka & Lakadia
- Construction of Ajmer (PG)-Phagi 765kV D/ C line aIong with associated bays for Rajasthan SEZ
- Jam Khambhaliya Pooling Station and Interconnection of Jam Khambhaliya Pooling Station for providing connectivity to RE projects (1,500MW) in Dwarka (Gujarat) and installation of 400/220 kY lCT along with associated bays at M/s CGPL Switchyard
- Transmission system associated with L.TA applications from Rajasthan SEZ Part C
REC Limited (REC) (Formerly Rural Electrification Corporation Limited) is a public Infrastructure Finance Company in India’s power sector. It finances and promotes rural electrification projects across India. The company provides loans to central/state sector power utilities in the country, State Electricity Boards, Rural Electric Cooperatives, NGOs, and Private Power Developers.
REC Ltd is currently trading at Rs117.45 down by Rs0.55 or 0.47% from its previous closing of Rs118 on the BSE.
The scrip opened at Rs120 and has touched a high and low of Rs120.05 and Rs116.85 respectively. So far 16,58,387 (NSE+BSE) shares were traded on the counter.