Last 329.20 INR
Change Today +17.65 / 5.67%
Volume 5.8M
RECL On Other Exchanges
Symbol
Exchange
Natl India
OTC US
As of 6:08 AM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).

rural electrification corp (RECL) Snapshot

Open
318.80
Previous Close
311.55
Day High
333.20
Day Low
316.40
52 Week High
07/7/14 - 383.40
52 Week Low
01/30/14 - 166.50
Market Cap
325.1B
Average Volume 10 Days
2.9M
EPS TTM
48.01
Shares Outstanding
987.5M
EX-Date
09/2/14
P/E TM
6.9x
Dividend
9.50
Dividend Yield
2.89%
Current Stock Chart for RURAL ELECTRIFICATION CORP (RECL)

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rural electrification corp (RECL) Details

Rural Electrification Corporation Limited, a public financial institution, provides finance assistance for rural electrification projects in India. It offers finance for intensive electrification projects; pump set projects; the improvement of transmission, sub transmission, and distribution systems; the procurement and installation of meters, transformers, capacitors, etc.; and for various working capital requirements, such as the purchase of fuel for power plant, as well as for the purchase of power, material and minor equipment, and system and network maintenance, including transformer repairs, etc. The company also provides debt refinancing for state power utilities/private power utilities by repaying their term loans raised from other banks/financial institutions; short term/medium term loans to the manufacturers of power/electrical material for power projects; finance for the development of rural electric cooperative societies; and term loans to state/central sector/private sector companies for power generation projects. It serves state electricity boards, state government departments, and rural electric cooperatives. The company was incorporated in 1969 and is based in New Delhi, India.

631 Employees
Last Reported Date: 08/26/14
Founded in 1969

rural electrification corp (RECL) Top Compensated Officers

Chairman, Managing Director, Chairman of Loan...
Total Annual Compensation: 5.0M
Director of Finance, Executive Director, Chai...
Total Annual Compensation: 4.1M
Director of Technical, Executive Director, Me...
Total Annual Compensation: 4.4M
Compensation as of Fiscal Year 2014.

rural electrification corp (RECL) Key Developments

SAIL Stake Sale On December 5

Steel Authority of India Limited (BSE:500113) (SAIL) may be sold. The government of India is set to kick off its INR 580 billion disinvestment program for 2014 - 2015 on December 5, 2014, with dilution of a 5% stake in SAIL. The steel ministry said that it would sell around 206.5 million shares in the company through the offer-for-sale (OFS) route. The government notification added that the offer would open at 9:15 AM and close at 3:30 PM on December 5, 2014 and the ministry would declare the floor price on December 4, 2014. The department of disinvestment in the finance ministry is planning to sell its stake in PSUs in 2014 through the OFS route, which has at least a 105 quota for retail investors, and takes 15-30 days for regulatory clearances. At current market price, sale of a 5% stake in SAIL will fetch the government about INR 17.4 billion. Government plans to raise INR 369.25 billion by selling its stake in 10 public-sector undertakings, including Oil and Natural Gas Corp. Ltd. (BSE:500312) (ONGC), Coal India Limited (BSE:533278) and NHPC Ltd. (BSE:533098), and Power Finance Corporation Limited (BSE:532810) (PFC), Rural Electrification Corporation Limited (BSE:532955) (REC) and Container Corporation of India Ltd. (BSE:531344). Additionally, the government plans to raise about INR 65 billion from part-sale of stake it holds through The Specified Undertaking of the Unit Trust of India in AXIS Bank Limited (BSE:532215), Larsen & Toubro Limited (BSE:500510), and ITC Limited (BSE:500875); and INR 150 billion from sale of its residual stake in Hindustan Zinc Ltd. (BSE:500188) and Bharat Aluminium Company Limited (Balco). Apart from SAIL, finance ministry officials are confident that Coal India, ONGC, and NHPC will hit the market by the end of January 2015. At current prices, the combined proceeds from these four public-sector behemoths will be around INR 429.11 billion. So far, however, there is less clarity on stake sales in the smaller companies, some of which might be shelved. The combined proceeds from sale of 5% each in Concor, PFC, REC and MOIL Limited (BSE:533286) could be about INR 52.1 billion at current rates, while the government expects about INR 55 billion from sale of 10% each in Hindustan Aeronautics Limited and Rashtriya Ispat Nigam Ltd.

Government In A Rush To Divest

Government of India is rushing to complete at least a part of its financial year 2015 disinvestment plan which includes Coal India Limited (BSE:533278), NHPC Ltd. (BSE:533098), Oil and Natural Gas Corp. Ltd. (BSE:500312) and Steel Authority of India Limited (BSE:500113). Stake sale in either Coal India Limited or Oil and Natural Gas Corp. Ltd. may happen in the next two weeks. A 10% stake sale in Coal India Limited will fetch about INR 217.78 billion, a 5% stake sale in Oil and Natural Gas Corp. Ltd. will garner INR 160.8 billion, while a 11% sale in NHPC Ltd. and a 5% sale in Steel Authority of India Limited, will garner INR 26.72 billion and INR 17.4 billion respectively. “The government is hoping to get close to the budgeted target and plans to sell stake in Coal India, ONGC, SAIL, and NHPC by January–end,” said a senior finance ministry official who did not wish to be named. Others in the divestment plan may include Power Finance Corporation Limited (BSE:532810), Rural Electrification Corporation Limited (BSE:532955), Container Corporation of India Ltd. (BSE:531344), Hindustan Aeronautics Limited, Rashtriya Ispat Nigam Ltd and MOIL Limited (BSE:533286). For Coal India and ONGC the government is planning to sell a part of its stake in two tranches, official sources said.

Rural Electrification Corporation Limited Announces Unaudited Standalone Earnings Results for the Second Quarter and Half Year Ended September 30, 2014

Rural Electrification Corporation Ltd. announced unaudited standalone earnings results for the second quarter and half year ended September 30, 2014. For the quarter, the company reported total income from operations of INR 50,237.1 million compared to INR 42,104.2 million a year ago. Profit from operations before other income and exceptional items was INR 19,930.7 million compared to INR 16,057.5 million a year ago. Profit from ordinary activities before tax was INR 20,356.3 million compared to INR 16,195.8 million a year ago. Net profit for the period was INR 15,007.5 million compared to INR 11,107.3 million a year ago. Basic and diluted EPS before and after extraordinary items was INR 15.20 compared to INR 11.25 a year ago. For the half year, the company reported total income from operations of INR 96,908.4 million compared to INR 81,988.7 million a year ago. Profit from operations before other income and exceptional items was INR 37,283.8 million compared to INR 31,807.8 million a year ago. Profit from ordinary activities before tax was INR 38,105.1 million compared to INR 32,075.4 million a year ago. Net profit for the period was INR 27,835.4 million compared to INR 22,643.9 million a year ago. Basic and diluted EPS before and after extraordinary items was INR 28.19 compared to INR 22.93 a year ago.

 

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