REC Ltd (RECLTD)

REC Ltd Rises for Fifth Straight Session - 16 May, 2024

REC Ltd stock has risen 2.28% to Rs 540.75, up around 26.15% in the last month and 306.27% in the last year. The Nifty Financial Services index is up 1.57% in the last month, while the benchmark May futures contract for REC Ltd is quoting at Rs 541.3, up 2.08% on the day.

REC Ltd Receives Positive Analyst Recommendation, Good Capital Adequacy Ratio - 09 May, 2024

REC Ltd is recommended as a buy by technical analyst Riyank Arora with a target price of 575.00 and stop loss of 520.00. The company's profitability will not be impacted by RBI's proposed regulations on project financing due to its strong capital adequacy ratio and tier I capital.

REC Ltd. Stock Rebounds After RBI Guidelines Clarification - 08 May, 2024

Shares of REC Ltd. rebounded after the company clarified that the new RBI draft guidelines will not affect its profitability, book value, or net worth. The impact of said guidelines will be on Tier 1 capital only.

REC Shares Slip Amid Tighter Project Finance Norms - 06 May, 2024

REC Ltd shares slipped over 11% from a record high amid tighter project finance norms. Analysts believe the proposed guidelines will have no impact on the company's profitability but on its capital position. However, brokerage firm CLSA maintained its buy call on the stock with a revised target price of Rs 595 against Rs 560.

REC Receives Approval to Set Up Subsidiary in GIFT City - 05 May, 2024

The Reserve Bank of India has given REC Ltd the green light to establish a wholly-owned subsidiary in GIFT City, Gujarat. The proposed finance company will engage in lending, investment, and other services as REC continues to diversify its portfolio.

REC Reports Strong Q4 Results and Renewed Interest - 03 May, 2024

REC Ltd reported strong Q4 results with a significant growth in both revenue and profit compared to the previous year. Additionally, renewed interest in the company is due to an improving NPA situation, higher loan disbursal, and diversified loan portfolio.

REC Ltd Stock Hits Record High After Strong Q4 Results - 02 May, 2024

Shares of REC Limited surge around 8% as the company reports strong earnings for Q4 FY24 with consolidated net profit jumping 33% YoY to Rs 4,079 crore and revenue from operations growing 25% YoY to Rs 12,613 crore. CLSA maintains a buy rating on the stock and raises its target price to Rs 595 per share.

REC Ltd Posts Strong Q4 Results and Dividend Recommendation - 30 Apr, 2024

State-owned REC Ltd reports a 33% rise in its consolidated net profit to Rs 4,079 crore in the March quarter, with revenue from operations growing 25%. The company aims to be NPA-free by the end of FY25. Shares of REC zoomed 9.64% to Rs 507.85 after the announcement.

REC Plans Dollar Bond Issue; Analysts Expect Strong Q4 Results - 26 Apr, 2024

State-run REC Ltd plans to raise funds through a dollar bond issue while Zee Business Research analysts predict strong Q4 FY24 results with expected net interest income of Rs 4,280 crore and profit of Rs 3,400 crore.

REC Secures Green Loan for Sustainable Growth - 25 Apr, 2024

State-owned REC Ltd has secured a green loan of Rs 3,250 crore from Italian export credit agency SACE to finance eligible green projects in India. The move highlights the growing commitment to sustainable financing practices and sets a new standard in the Indian public sector for similar green financing transactions. Additionally, REC's board will consider a final dividend for FY 2023-24 and Q4 results on April 30.

REC Ltd Stock Gains on Loan Agreement with Chenab Valley Power Project - 24 Apr, 2024

REC Ltd's stock gained for a third consecutive session after signing an agreement with Chenab Valley Power Project Private Ltd (CVPPPL) to provide financial assistance of Rs 1,869.265 crore as a term loan for the Kiru hydro project in Jammu and Kashmir.