REC shares rose 1.45% to ₹353.25 following the execution of a share purchase agreement (SPA) for the transfer of Jalna Power Transmission. According to reports from Business Standard, the stock movement reflects positive market response to the strategic transaction.
The company executed the SPA through its subsidiary RECPDCL with the Maharashtra State Electricity Transmission Company (MSETCL) for the transfer of Jalna Power Transmission. As reported by Business Standard, the transaction was valued at approximately ₹3.22 crore, which includes professional fees and reimbursement of expenses. The deal was completed on 12 June 2026.
According to Business Standard, the company stated that the SPV contributed negligibly to its turnover in the last financial year. The transaction does not fall under related party norms and is not classified as a slump sale. The consideration has been determined in line with guidelines issued by the Ministry of Power.
REC is engaged in extending financial assistance across the power sector value chain and is a systemically important non-deposit-taking NBFC registered with the Reserve Bank of India. As reported by Business Standard, the company operates in the power sector financial services space.
The company's consolidated net profit declined 21.7% to ₹3,375.08 crore in Q4 FY26 from ₹4,309.98 crore in Q4 FY25. According to Business Standard, total income fell 5% year-on-year to ₹14,583.39 crore in the same period, reflecting challenging market conditions in the power sector financial services segment.
