Large cap Maharatna PSU REC Ltd shares gained 1.22% in trade today on Bombay Stock Exchange (BSE) to settle at Rs 440.30 apiece. The Board of Directors of the NBFC PSU will hold meeting on February 6, 2025 to consider unaudited financial results for the quarter ended December 31, 2024. The company will also consider and recommend 3rd interim dividend in the February 6 meeting.
REC shares slipped 10.51% in last 1-year and zoomed 279.24% in last 2-years. Its market cap is Rs 1,15,940.85 crore and return on equity (ROE) is 20.21%. It is important to note that the stock is backed by Life insurance corporation of India (LIC) as the stat-run firm has 1.35% stake in REC as of December 31, 2024 quarter. Check key details below:
Board of REC To Consider, Approve Financial Results & Interim Dividend
As per the regulatory filing of the PSU issued on January 30, 2025, “a meeting of the Board of Directors of REC Limited will be held on Tbursday, February 6, 2025 inter-alia for the following:
- To consider and approve unaudited financial results (standalone & consolidated) of the Company for the quarter and period ended December 31, 2024.
- To consider and declare 3’d interim dividend for the financial year 2024-25, if any.”
REC Dividend History
The PSU recommended a total of 39 dividends since September 8, 2008. In last 1-year, REC Ltd recommended an equity dividend amounting to Rs 17.00 per share. At last trading price of Rs 440.30, REC offers a dividend yield of 3.86%.
REC Bonus Shares History
REC has recommended a total of 2 bonuses since September 28, 2016. Its last bonus was recommended in the proportion of 1:3 with ex-bonus date set as August 17, 2022.
REC Shareholding
FII/FPI have increased holdings from 21.22% to 21.74% in Dec 2024 qtr. Number of FII/FPI investors decreased from 1010 to 968 in Dec 2024 qtr. Mutual Funds have decreased holdings from 8.94% to 8.45% in Dec 2024 qtr. Number of MF schemes decreased from 36 to 35 in Dec 2024 qtr. Institutional Investors have increased holdings from 35.52% to 35.70% in Dec 2024 qtr.
REC Shares Performance
The 52-week high price of REC Ltd shares on BSE is Rs 653.90 per share (as on 12/07/2024) and 52-week low price is Rs 408.00 per share (as on 05/06/2024), respectively. REC shares dived 12.88% year-to-date, tumbled 31.44% in last 6-months, and soared 334.22% in last 3-years.
About REC
REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). It came into existence in 1969 to energise agricultural pump-sets for irrigation purposes, thereby reducing the dependency of agriculture on monsoons. REC coverS the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Green Hydrogen etc, according to its official website.
Disclaimer
The story highlights upcoming Board meeting for dividend, Q3 results and should not be considered as investment advice by the Moneydaily.in or the Author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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