REC doubles its Market Cap in one year, figures in MSCI Global Standard Index

Gurugram: REC Limited, the Maharatna CPSE under the Ministry of Power, has secured coveted place in the esteemed Morgan Stanley Capital International (MSCI) Global Standard Index, effective from 1st September 2023. A recent report by Nuvama Alternative & Quantitative Research highlighted that REC stocks were considered strong contenders for the November 2023 review. The analysis conducted by Nuvama Alternative & Quantitative Research anticipates REC’s inflows to be around $184 Million.

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 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.

It may be noted that value of REC stock has more than doubled in last one year from Rs. 100.20 on 10th August 2023 to Rs. 216.65 on 10th August 2023.

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.

REC Limited, a Maharatna CPSU under Ministry of Power, is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years in the area of its 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.

Disclaimer: This story is a press release and is being published without any editing, except the headline, by the PSU Watch desk.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)