REC Ltd share price is showing a mixed trend in the stock market. As of the latest updates, the share price opened at ₹554.05, reflecting a rise of 1.73% from the previous day’s close of ₹544.65. This fluctuation in stock value indicates ongoing investor interest and market activity surrounding REC Ltd, a prominent player in the financial sector.
Main Points
The latest trading data reveals that REC Ltd’s share price has been quite volatile recently. On September 17, the stock closed at ₹557.60 but experienced a decline of 0.56% based on its previous closing price of ₹567.70. The recent downward trend can be linked to broader market movements, particularly the performance of the Nifty index, which has seen fluctuations impacting many stocks, including REC.
Key Metrics
- Current Price: ₹554.05
- Previous Close: ₹544.65
- Market Cap: Approximately ₹1,51,989 crore
- 52-Week High/Low: ₹653.90 / ₹239.60
- P/E Ratio: 10.93
- Dividend Yield: 2.63%
These metrics indicate that while REC has shown strong performance over the past year with a staggering return of approximately 158%, recent trends suggest caution among investors due to market volatility.
On this day, REC Ltd announced significant plans to expand its renewable energy financing portfolio. The company has signed a non-binding financial commitment to increase its renewables loan book to over ₹3 lakh crore by 2030. This strategic move aims to raise the share of renewables in its total loan book from the current 8% to an ambitious 30% over the next six years.
This commitment aligns with India’s broader goals of enhancing non-fossil fuel-based energy generation capacity from 200 GW to an impressive 500 GW by 2030. At a recent Global Renewable Energy Investors Meet & Expo, REC also established non-binding Memorandum of Understandings (MoUs) with renewable energy developers worth about ₹1.12 lakh crore, covering various innovative projects including solar and wind hybrid initiatives.
The news regarding REC’s commitment to renewable energy financing has generated positive reactions among investors and analysts alike. The company’s proactive approach towards increasing its involvement in green energy projects reflects a growing trend among public sector undertakings to align with sustainable development goals.
Despite the recent fluctuations in share price, analysts remain optimistic about REC’s long-term growth potential due to its robust business model and commitment to expanding its renewable energy portfolio. The overall sentiment in the market remains cautiously optimistic as investors await further developments from both REC and broader market trends.
From a technical standpoint, REC’s stock has shown some resistance levels around ₹577 and support near ₹544. Analysts suggest that if the stock can maintain above these levels, it may indicate a potential upward movement in the coming days. However, investors should remain vigilant as market conditions can change rapidly.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
