Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An update from REC Limited ( (IN:RECLTD) ) is now available.
REC Limited has announced the incorporation of Apta Power Transmission Limited as a wholly owned subsidiary of its arm REC Power Development and Consultancy Limited, making it an indirect subsidiary of REC Limited. The newly formed entity, with an authorised and paid-up capital of ₹5 lakh, has been established to develop the 765/400/220 kV AIS Apta transmission project in Raigad district, Maharashtra, which was allotted by the state government with RECPDCL appointed as bid process coordinator; after a winning bidder is selected under tariff-based competitive bidding guidelines, the project company will be transferred along with all its assets and liabilities, underscoring REC’s continuing role as a key facilitator and transaction manager in India’s power transmission build-out rather than a long-term asset owner in this case.
More about REC Limited
REC Limited operates in India’s power sector as a state-owned non-banking financial company, primarily focused on financing power generation, transmission and distribution projects across the country. Through its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL), the company also undertakes project development, advisory and bid process coordination roles to support expansion and modernization of power infrastructure, particularly in high-voltage transmission networks.
Average Trading Volume: 314,857
Technical Sentiment Signal: Hold
Current Market Cap: 932.8B INR
For a thorough assessment of RECLTD stock, go to TipRanks’ Stock Analysis page.