Big bullish rally is coming in REC Share Price after Rs 475, add it to watch list now
REC Ltd’s share price has been a topic of interest among investors and market watchers. The stock, which is a significant player in the finance sector, has shown notable fluctuations throughout the trading day. As of the latest updates, the share price of REC Ltd is ₹523.70, reflecting a decrease of approximately 4% from its previous closing price of ₹546.05. This decline comes amid broader market trends affecting public sector undertakings (PSUs) in India.
Main Points
The stock opened today at ₹545.65 and reached a high of ₹546.05 before descending to a low of ₹523.70. The trading volume has been substantial, with over 7 million shares exchanged so far. This activity indicates that investors are actively engaging with the stock, despite the downturn.In terms of market capitalization, REC Ltd stands at approximately ₹1,65,709 crore. The company’s performance over the past year has been impressive, with a staggering return of about 158.87%. However, recent trends suggest a correction phase for many PSU stocks, including REC.
For those looking to analyze REC Ltd’s stock performance further, several key technical levels are essential:
- Resistance Levels:
- R1: ₹530
- R2: ₹540
- R3: ₹550
- Support Levels:
- S1: ₹520
- S2: ₹510
- S3: ₹500
The pivot point for today’s trading is set around ₹525. If the stock can break through the resistance levels mentioned above, it may signal a potential recovery phase. Conversely, if it falls below the support levels, further declines could be anticipated.
The decline in REC’s share price is part of a larger trend affecting PSU stocks today. Reports indicate that many stocks in this sector are experiencing selling pressure due to perceived overvaluation and shifting investor focus towards large-cap stocks. Analysts suggest that this correction is natural after a significant run-up in prices over the past few years.
Notably, REC Ltd has been involved in significant projects recently, including plans to increase its renewables loan book substantially by committing over ₹3 lakh crore by 2030. This initiative aims to enhance its portfolio and align with India’s growing focus on renewable energy sources.
In recent news, REC Ltd’s management has also announced plans to increase its operational efficiency and expand its loan book significantly. This strategic move is expected to raise the share of renewable energy financing from the current 8% to an ambitious 30% by 2030.
Furthermore, REC’s financial results have shown consistent growth. For instance, in the last fiscal year ending June 2024, the company reported a profit of approximately ₹3,460 crore on total income of around ₹13,092 crore.
Despite today’s decline in share price, investor sentiment remains cautiously optimistic about REC Ltd’s long-term prospects. The company’s robust financials and strategic initiatives in renewable energy are seen as positive indicators for future growth.
However, investors are advised to monitor market conditions closely as shifts in investor sentiment can lead to volatility in stock prices. The ongoing corrections within the PSU sector may present both risks and opportunities for savvy investors looking to capitalize on lower entry points.
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.
