The shares of REC (up 5 per cent at Rs 144) and Power Finance Corporation (up 2.5 per cent at Rs 116) hit their respective 52-week highs during intra-day trade on the BSE on Tuesday.
In the past two weeks, REC and Power Finance Corporation (PFC) have outperformed the market by gaining 20 per cent and 12 per cent, respectively. In comparison, the S&P BSE Sensex was up 2 per cent during the same period.
The board of PFC, on February 21, approved scheduling an Extraordinary General Meeting (EGM) on March 19 to enter into a Related Party Transaction (RPT) for acquiring 1,039 million equity shares of REC together with management control.
