REC Ltd (RECLTD)

REC Ltd Down for Fifth Straight Session - 19 Jul, 2024

The stock of REC Ltd is down 1.57% on the day, quoting at Rs 600.5 as of 13:19 IST on the NSE. The volume in the stock stood at 89.39 lakh shares today, compared to the daily average of 171.28 lakh shares in last one month. Meanwhile, Nifty Financial Services index has decreased around 0.82% on the day.

REC Ltd sees marginal trimming of stake by domestic mutual funds - 17 Jul, 2024

Domestic mutual funds have marginally trimmed their stake in REC Ltd between April-June, while foreign portfolio investors and small retail shareholders continued to add to their holdings. Shares of REC were up 16.5% between the April-June period, recovering all losses from June 4th. The stock has already gained 17% so far in July and is up nearly 50% YTD.

REC Ltd Inaugurates Cardiac Ward at Sri Sathya Sai Sanjeevani Hospital - 15 Jul, 2024

REC Limited has inaugurated the REC Gift of Life–Cardiac Ward at Sri Sathya Sai Sanjeevani Hospital in New Raipur. The ward, dedicated to paediatric cardiac care surgeries, has aided 1,000 children born with congenital heart diseases from economically weaker sections of society.

REC Ltd's Share Price Increases by 26% in a Month - 12 Jul, 2024

The share price of REC Limited has increased by 26% in the last month and 291% in the last year. The company's P/E ratio is lower than most companies in India, but investors are not expecting significant future growth.

REC Secures Green Loan for Renewable Energy Projects - 11 Jul, 2024

State-owned REC Ltd secures JPY 31.96 billion green loan from Deutsche Bank's GIFT City branch to finance eligible green projects in India, promoting renewable energy and reducing carbon emissions.

REC Shares Rally as it Avails Loan for Green Projects - 10 Jul, 2024

Shares of REC and PFC rallied up to 4% hitting all-time highs on the BSE. REC also availed a $200 million loan from Deutsche Bank AG to finance green projects in India.

REC Ltd Stock Rises Following ICICI's Buy Call - 09 Jul, 2024

REC Ltd stock has risen following ICICI Direct Research's recommendation of a BUY call with a target price of Rs 610 per share. The stock is currently trading at Rs 610.35, up around 19.4% in the last one month.

Budget 2024 May Boost Investment in REC Ltd Bonds - 08 Jul, 2024

The upcoming Budget 2024 may increase investment limits for notified bonds, including those issued by Rural Electrification Corporation (REC) Limited. The lock-in period for such investments may also be extended to five years from the current three years. Additionally, interest components on these bonds may be exempted, making them a more attractive option for taxpayers.

REC Ltd Stock Target Set at Rs 585 by Experts - 05 Jul, 2024

Analysts recommend buying REC Ltd stock for a target of Rs 585 in the next 1-2 weeks. The stock price surged 242% from July 4, 2023, to reach a record high of Rs 607 on June 3, 2024.

Bernstein Initiates Coverage on PFC and REC with Positive Outlook - 04 Jul, 2024

Bernstein has initiated coverage on two PSU multibaggers, PFC and REC, suggesting a target price of Rs 653 for REC. The brokerage likes REC as a company but prefers PFC over REC at prevailing stock levels given the relative valuations.

Bernstein Initiates Buy Rating on REC and PFC Stocks - 03 Jul, 2024

Global brokerage firm Bernstein has initiated a Buy rating on Rural Electrification Corp (REC) and Power Finance Corp (PFC), calling them their most preferred plays in India's power cycle. Both stocks have been given a target price, with REC having a potential upside of over 21%, while PFC has an upside of 23%. The perceived risk of non-performing assets is significantly lower this time around, and both companies have better ROEs and growth rates than their peers.

Motilal Oswal Picks REC Ltd as Technical Pick - 02 Jul, 2024

REC Limited has been selected by brokerage firm Motilal Oswal as a technical pick with a fixed target of Rs 580 for the stock. The shares have given good returns in the last year, jumping around 230%.

REC Reports Strong Loan Growth in Q1 FY25 - 01 Jul, 2024

State-owned REC Ltd reports a significant YoY increase in loan sanctions and disbursements for Q1 FY25, with notable growth in renewable energy projects. Shares rise nearly 5%.

REC Ltd Approves Incorporation of Two Subsidiaries for Interstate Transmission Projects - 29 Jun, 2024

The Board of REC Ltd has approved the incorporation of two project-specific special purpose vehicles as wholly-owned subsidiaries of REC Power Development & Consultancy. The purpose is to select a bidder as Transmission Service Provider for two interstate transmission systems projects allocated by the Ministry of Power through Tariff Based Competitive Bidding process.

Greenko Group in Talks with REC to Raise Funds for Green Hydrogen Project - 27 Jun, 2024

Greenko Group is reportedly in talks with state-run power financier, REC Ltd., to raise funds of Rs 2,200-2,400 crore for its green hydrogen and ammonia project. The company will enter into firm agreements upon achieving financial closure.

REC Ltd Stock Takes Support Above 50-DMA Amid Dividend Announcement - 24 Jun, 2024

Despite falling nearly 17% from its June 2024 high, REC Ltd's stock has taken support above the 50-DMA, suggesting a technical bounceback. The company has fixed the record date for its final dividend of Rs 5 per share, while NBCC (India) Ltd secured a significant work order worth Rs 100 crore from REC Ltd.

REC Ltd yet to finalize financial institution for funding project - 20 Jun, 2024

Both Power Finance Corp and Rural Electrification Corp, along with JICA, have shown interest in funding a project by REC Ltd. However, the company is yet to finalize the financial institution.