Rural Electrification Corporation fell 1.12% to Rs 175.85 at 15:10 IST on BSE after a bulk deal of 70.94 lakh shares was executed on the scrip at Rs 179 per share at 11:26 IST on BSE.
Meanwhile, the S&P BSE Sensex was up 156.30 points, or 0.48% to 32,384.57
Bulk deal boosted volume on the scrip. On the BSE, 82.51 lakh shares were traded in the counter so far, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 179.60 and a low of Rs 175.60 so far during the day. The stock hit a 52-week high of Rs 223.80 on 9 May 2017. The stock hit a 52-week low of Rs 99.45 on 22 July 2016.
The stock rose 0.97% over the past one month till 25 July 2017, underperforming the Sensex's 3.5% rise. The scrip had also underperformed the market in past one quarter, declining 13.12% as against Sensex's 7.63% rise. The scrip, however, outperformed the market in past one year, surging 66.64% as against Sensex's 14.71% rise.
The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.
Rural Electrification Corporation's (REC) net profit rose 13.72% to Rs 1319.23 crore on 1.73% decline in total income to Rs 5979.33 crore in Q4 March 2017 over Q4 March 2016.
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. The Government of India holds 58.86% stake in the company, as per the shareholding pattern as at 30 June 2017.
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