REC Share Price: Shares of state-owned REC Ltd on Thursday gained for the second consecutive day. The latest surge comes as the company has informed exchanges that its board has approved raising funds via bonds. The counter opened with a gain at Rs 404.60 against the previous close of Rs 400.95 on the BSE. The momentum continued, and the counter touched the intraday high of Rs 409.70. This is 2.18 per cent higher than the previous close. Last seen, the counter held firmly in green and was trading at Rs 403.80. The counter trades, higher than the 5-day and 20-day moving averages but lower than the 50-day, 100-day and 200-day moving averages.
On the NSE, the stock started the session at Rs 404.45 and touched a high of Rs 409.75. The stock touched a 52-week high of Rs 654 on July 12, 2024 and a 52-week low of Rs 357.35 on February 28, 2025.
The market cap of the company is Rs 1,06,461.25.
Board Approves Fund Raise
The PSU has informed exchanges that its board of directors has approved the proposal to raise funds via bonds. However, it is subject to the approval of shareholders at the next AGM.
"Proposal of raising of funds through Private Placement of Unsecured / Secured Non-Convertible Bonds / Debentures of up to ₹1,55,000 crore, subject to the approval of shareholders in the ensuing Annual General Meeting ("AGM"). The funds will be raised, in one or more tranches, during a period of one year from the date of passing of resolution by the shareholders, with the approval of Competent Authority," the filing read.
REC Share Price History
The stock has given a multibagger return of 177 per cent in two years and 351 per cent in three years. It has made investors richer by 438 per cent. However, the stock has corrected 12 per cent in 1 year and around 20 per so far this year.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
