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PFC has gained over 240 percent in the last one year, while REC has gained over 300 percent. Meanwhile, IREDA has surged 187 percent in just the last six months.
The decision to expand operations into GIFT, a burgeoning hub for financial services in India, comes as REC continues to diversify its portfolio and explore new avenues for growth, the company stated.
The BJP government has initiated various measures to increase the operational autonomy of the PSU companies and proposed significant reforms and divestment in these companies. Shares of power sector lenders REC and Power Finance Corporation have climbed 252 per cent and 241 per cent, respectively, in 2023, so far.
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