New Delhi: REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has secured a coveted place in the Morgan Stanley Capital International (MSCI) Global Standard Index, effective from September 1, 2023.
A recent report by Nuvama Alternative and Quantitative Research highlighted that REC stocks were considered strong contenders for the November 2023 review. The analysis conducted by Nuvama Alternative and Quantitative Research anticipates REC’s inflows to be around $184 million.
It may be noted that the value of REC stock has more than doubled in the last one year, from Rs. 100.20 on August 10, 2022, to Rs. 216.65 on August 10, 2023.
The inclusion of REC in MSCI solidifies REC’s status as a leading player in the financial sector and market, and opens up new horizons to expand its reach and influence on a global scale and level, the Ministry of Power stated here today. It added, “The entry of REC into the MSCI index is a commendable one and reinstates its stature as one of the premier financial organizations across the globe”.
The MSCI Global Standard Index is a series of international equity indexes created by MSCI Inc. These indexes are widely used by investors, fund managers, and financial professionals to measure the performance of global equity markets.
It may be noted that REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years of operations. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India. REC has recently diversified into financing infrastructure and the logistics sector as well.
– global bihari bureau
