By Shares of REC saw a significant uptick, rising nearly 8%, following the announcement of its quarterly earnings report. The state-owned company revealed a notable 13.5% increase in its profit, reaching Rs 3,308.42 crore for the December quarter. This positive news propelled the company’s stock performance, with shares advancing by 7.65% on the NSE, settling at Rs 468 apiece. Similarly, on the BSE, REC shares climbed by 7.63%, closing at Rs 467.50 per piece.
Trading Activity and Market Response
The surge in REC shares was accompanied by robust trading activity. On the BSE, 11.44 lakh equity shares were traded, while on the NSE, a substantial 3.52 crore shares exchanged hands throughout the day. The market responded positively overall, with the 30-share BSE Sensex gaining 689.76 points, or 0.98%, to settle at 71,060.31. The NSE Nifty also witnessed a notable increase, gaining 1.01% to end at 21,453.95.
Financial Performance Highlights
REC Ltd’s consolidated net profit for the December quarter surged to Rs 3,308.42 crore, a significant increase from Rs 2,915.33 crore recorded in the same period the previous year. The company attributed this growth primarily to higher revenues. Total income for REC Ltd also saw a substantial rise, reaching Rs 12,071.54 crore compared to Rs 9,795.47 crore in the corresponding period a year ago.
The positive financial performance reported by REC Ltd not only reflects its strong operational performance but also instills confidence in investors, contributing to the notable surge in its share price.
