Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Shares of Rural Electrification are among today's top gainers. Know why

Shailendra BhatnagarAug 10, 2015, 10:12 IST

Shares of Rural Electrification Co. Ltd., a state-run lender, made it into the top gainers in the futures and options space after the company surprised the street with its first quarter earnings.

RECL said its first quarter profit jumped 15.3 percent to 1,478.2 crore rupees compared with 1,282.8 crore rupees in the same quarter a year ago.

RECL rose 3 rupees, or 8 percent, to 274 rupees on the National Stock Exchange, where 7.92 lakh shares were traded by 10:10 amcompared with the 5-day average of 1.81 lakhs.

RECL's market capitalisation has slipped 5 percent to 26,340 crore rupees over one year as investors stayed away from PSU lenders active in sectors suffering major policy issues.

Image credit: Indiatimes