Page 46 - Rec News Today

92 percent of the stocks in the Nifty Midcap 100 gave positive returns in November 2023. The index itself gave double-digit returns, outperforming the benchmark index in this period. It rose 10 percent last month as against a 5.5 percent jump in benchmark Nifty.

More recently REC diversified into the non-power Infrastructure sector comprising of roads & expressways, metro rail, airports, IT communication, social & commercial infrastructure, ports and electro-mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. The loan book of REC exceeds Rs 4,74,275 crore, a statement issued by the company on November 23, 2023, stated.

Shares of Torrent Power, NTPC and Power Finance Corp hit their lifetime highs on Wednesday, while REC hit its lifetime high earlier this month. Renewable energy player Suzlon Energy is also at a multi-year high, while Tata Power was at its highest level in more than a month.

REC’s daily trend is bullish to sideways. The RSI for monthly, weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 300 and 350. Let’s plan a trade around this.

The funds under the said revised market borrowing programme will be raised, from time to time, during the financial year 2023-24, with the approval of competent authority as per powers delegated in this regard by the Board of Directors, it added.

REC Board Approves Hike in Borrowing to Rs 1.5 Lakh Crore for FY24

ETMarkets has identified 11 BSE PSU stocks that have achieved multi-bagger status

“It is like earlier you had only two options – REC & PFC – and now you have a third option. So, if somebody is adding a fresh position in power financiers, he has out of the three to choose instead of two. Otherwise, all three of them will be similar and we would like to go with the existing ones.”

According to the projections of National Electricity Plan for 2022-32, the required coal- and lignite-based installed capacity will be 283 GW by 2031-2032 as against the present installed capacity of 214 GW, the power ministry said in a statement on Wednesday.

“Both REC and PFC continue to be under-owned by the investors vis-à-vis banks and other financial stocks. So, both will continue to do well and that could be a re-rating. Plus they have a healthy dividend payout also. REC and PFCs payout policy of 30% distributing that will remain healthy.”