Stocks

REC divest entire stake in its subsidiary to Power Grid Corporation

| Updated on December 13, 2019

REC informed the bourses that it has sold the entire shareholding of REC Transmission Projects Company (RECTPCL), a wholly-owned subsidiary, in Rampur Sambhal Transco to Power Grid Corporation of India. RECTPCL has received ₹7.06 crore by selling 50,000 shares of Rampur Sambhal Transco along with all its assets and liabilities on December 12. Shares of REC closed 0.78 per cent higher at ₹136.10 while those of Power Grid rose 1.06 per cent to ₹186.35 on the BSE on Friday.

Published on December 13, 2019

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