REC to incorporate five SPVs in Jharkhand
Rural Electrification Corporation announced on Thursday that the company will be incorporating five Project Specific Special Purpose Vehicles (SPVs), as wholly-owned subsidiary companies of REC Transmission Projects Company Limited (RECTPCL) for development of Intra-State Transmission lines of Jharkhand State. The companies to be incorporated will also be subsidiary companies of REC.
The company further stated that the entire shareholding of REC Transmission Projects Company Limited (a wholly-owned subsidiary of REC) in ERSS XXI Transmission Limited has been sold and transferred to Power Grid Corporation of India Limited, the successful bidder selected through tariff-based competitive bidding for development of Inter-State Transmission project.
The stock hit an intraday high of Rs 167.10 per share and an intraday low of Rs 163.80 per share on BSE on September 22, 2017. The stock had hit its 52-week high of Rs 223.80 per share on May 9, 2017 and its 52-week low of Rs 113.10 per share on November 9, 2016 on BSE.
At 1058 hours, the stock was trading at Rs 166.60 per share, up by 0.45% on the BSE on Friday. The stock recorded a trade volume of 30,51,237 shares and a trade value of Rs 5,050.10 lakh on NSE on September 22.
Meanwhile, NSE Nifty 50 was trading at 10,023.60 level, down by 98.30 points or 0.97% and S&P BSE Sensex was trading at 32,122.22 level, down by 247.82 points or 0.77% on Friday.
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Via:: Stock – India Infoline