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REC Limited ( (IN:RECLTD) ) has provided an update.
REC Limited has announced the incorporation of Ambernath Power Transmission Limited as a wholly owned subsidiary of its arm REC Power Development and Consultancy Limited, thereby making it an indirect subsidiary of REC. The new entity, set up with an authorised and paid-up capital of ₹5 lakh, has been created to implement a 400/220 kV GIS substation project at Ambernath in Thane district, Maharashtra, an intra-state transmission project allocated by the state government for which RECPDCL is acting as bid process coordinator. Once a successful bidder is selected under tariff-based competitive bidding guidelines, the newly incorporated company, along with its assets and liabilities, will be transferred to that bidder, underscoring REC’s role as a key facilitator and developer in India’s power transmission infrastructure rather than the long-term asset owner.
More about REC Limited
REC Limited is a Maharatna central public sector enterprise under the Government of India, operating in the power sector. Through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), the company focuses on power infrastructure development, including transmission projects, and acts as a bid process coordinator for tariff-based competitive bidding in collaboration with state governments.
Average Trading Volume: 308,051
Technical Sentiment Signal: Hold
Current Market Cap: 879.4B INR
For an in-depth examination of RECLTD stock, go to TipRanks’ Overview page.