REC hits a new high

Rural Electrification Corporation (REC) is the top gainer on the BSE currently and it hit a new 52-week high at Rs.198.60, with a 2.5 times jump up in volumes.

The stock is up on grapevine that REC is probably looking at diversifying from power sector lending to financing equipment manufacturing, energy efficiency schemes, power plants renovation and coal blocks development.

There is news that the company is also looking at changing its name; a new name which will encompass its proposed new diversified activities.