REC Ltd’s stock rose 3% after ICICI Securities issued a ‘Buy’ rating with a target price of ₹600, citing a strong ₹43 lakh crore projects pipeline for power generation and transmission as a key growth driver.
With a 20% market share in India’s power financing sector, REC is well-placed to benefit from rising energy demands and the shift toward renewables.
ICICI Securities highlighted REC’s robust asset quality and government-backed reforms to improve discoms’ financial health as additional catalysts. The brokerage sees REC’s operational and financial stability, backed by favorable policies, as key to capitalizing on India’s clean energy transition and increasing power needs.
REC shares opened at ₹452.00 today, reaching a high of ₹462.80 and a low of ₹449.50. The stock remains significantly below its 52-week high of ₹654.00 but above the 52-week low of ₹408.30.
As of 9:54 AM, REC shares were trading 2.80% higher at Rs 459.25.
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