REC enters into 200 million Euro Loan Agreement with German Bank KfW

REC Limited has signed a 200 million Euro loan agreement with the German Bank KfW in New Delhi today. This is REC's sixth line of credit under Indo-German Development Cooperation, which REC will utilize to re-finance investments in the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India.

This occasion marks yet another significant step in REC's ongoing commitment to the reform of the distribution sector in the country.

Shares of REC Limited was last trading in BSE at Rs. 405.85 as compared to the previous close of Rs. 394.80. The total number of shares traded during the day was 985508 in over 13759 trades.

The stock hit an intraday high of Rs. 409.00 and intraday low of 394.90. The net turnover during the day was Rs. 397805223.00.

Source : Equity Bulls

Keywords

REC INE020B01018 EuroLoanAgreement GermanBankKfW