Shares of REC hit a new high at Rs 234.45, as they rallied 5 per cent on the BSE in Thursday’s intra-day trade on strong growth outlook. The stock of state-owned financial institution company has zoomed 46 per cent in past one month. In comparison, the S&P BSE Sensex, was down 0.5 per cent at 02:37 PM, and has slipped 2.4 per cent during the period.
A sharp surge in stock price of REC has helped the stock break into India’s top-100 most valuable companies chart in terms of market capitalisation. With Rs 61,735 crore market cap, REC stood at number 100th position in overall ranking, the BSE data shows. REC surpassed state-owned bank, Indian Overseas Bank, which has market cap of Rs 60,525 crore, data shows.
