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India
As of 18 Sept 2026, 03:30 pm
On September 9, 2026, REC Limited entered into an agreement to sell its subsidiary, Musalgaon Power Transmission Limited, to Maharashtra State Electricity Transmission Company Limited. The sale consideration was ₹22,089,930 in cash. The subsidiary reported zero turnover and revenue in the previous year, with a net worth of negative ₹35,298,660,000,000.
As of September 17, 2026, REC Limited's daily trend indicators suggest a bearish outlook. The Exponential Moving Average (EMA) of 20 days is at 320.22, while the closing price is 310.5. The Supertrend indicator is at 330.87, also indicating a bearish direction. The Average Directional Index (ADX) is 53.1, suggesting strong trend momentum.
REC Limited has experienced negative returns across various recent periods. As of September 17, 2026, the year-to-date (YTD) return was -16%, the one-year return was -19%, and the return since the start of trading was -39%. Shorter-term returns also show declines, with a -9% return in the last month and a -13% return over the last three months.
As of September 17, 2026, REC Limited's nearest support level is at ₹310.48, which is very close to the current trading price. The nearest resistance level is identified at ₹312.28. Other support levels are noted at ₹309.07 and ₹305.48, while further resistance levels are at ₹315.87 and ₹319.08.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Downward price movement of 2.86 standard deviations recorded on 2026-08-14.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Profit Before Tax | ₹5,268.30 crore | ₹4,414.54 crore | ₹5,136.43 crore | ₹5,548.94 crore | PEAK₹5,666.41 crore |
| Tax Expense | ₹1,075.54 crore | ₹1,039.46 crore | ₹1,083.99 crore | ₹1,134.01 crore | PEAK₹1,200.70 crore |
| Profit Loss For Period | ₹4,192.76 crore | ₹3,375.08 crore | ₹4,052.44 crore | ₹4,414.93 crore | PEAK₹4,465.71 crore |
| Other Comprehensive Income | PEAK₹3,247.19 crore | -₹3,046.83 crore | ₹676.12 crore | ₹668.52 crore | -₹2,464.16 crore |
| Comprehensive Income For The Period | PEAK₹7,439.95 crore | ₹328.25 crore | ₹4,728.56 crore | ₹5,083.45 crore | ₹2,001.55 crore |
| Revenue From Operations | ₹14,434.92 crore | ₹14,563.82 crore | ₹15,017.70 crore | PEAK₹15,152.67 crore | ₹14,737.45 crore |
Revenue from operations was ₹14,434.92 crore, down 2.0% from ₹14,737.45 crore a year earlier. Interest earned, the primary revenue component, fell 2.1% to ₹14,200.47 crore, compared to ₹14,512.32 crore in the year-ago quarter. Finance costs also declined by 2.1% to ₹8,747.50 crore, from ₹8,934.18 crore a year earlier. Other income decreased to ₹34.57 crore from ₹86.53 crore a year earlier. Fees and commission income was ₹109.13 crore.
Exchange disclosures and regulatory announcements for REC.
Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
On September 9, 2026, REC Limited entered into an agreement to sell its subsidiary, Musalgaon Power Transmission Limited, to Maharashtra State Electricity Transmission Company Limited for a consideration of INR 22,089,930. The transaction was executed at arm's length with cash as the nature of consideration and is expected to be completed on the same date. Financial data indicates the subsidiary had zero turnover, revenue, and income in the previous year, while reporting a net worth of negative INR 35,298,660,000,000.
Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
On September 7, 2026, REC Limited appointed M/s. G. S. Mathur & Co. and M/s. S. K. Mehta & Co. as its Statutory Auditors for a 12-month term, effective the same date.
On September 7, 2026, the Comptroller and Auditor General of India appointed M/s. G. S. Mathur & Co. and M/s. S. K. Mehta & Co. as joint Statutory Auditors for REC Limited for the financial year 2026-27 pursuant to Section 139 of the Companies Act, 2013. The appointment was formally communicated via letter dated September 7, 2026, and disclosed by the company on September 8, 2026, in compliance with SEBI Listing Regulations.
On September 7, 2026, Japan Credit Rating Agency, Ltd. (JCR) revised REC Limited's long-term issuer credit rating from 'BBB+' to 'A-' while maintaining a Stable Outlook. This revision was communicated to the National Stock Exchange of India and BSE Limited in compliance with SEBI Listing Regulations. The update was formally disclosed by Company Secretary & Compliance Officer Dinesh Garg.
REC Limited issued India's first pilot issue of tokenized corporate bonds under the SEBI Regulatory Sandbox Framework on September 7, 2026. The issue size was ₹500 crore (base ₹100 crore with a ₹400 crore green shoe option), with bidding on the NSE EBP platform. The issue was oversubscribed by ~8x, receiving bids of ~₹796 crore, and REC accepted ₹500 crore at a 7.30% coupon for a tenor of 1 year 9 months. The tokenized mode enabled same-day pay-in, allotment, and listing on NSE and BSE.
Recent market and company developments associated with REC.
India's pilot tokenised bond issuance successfully settled transactions on a distributed ledger. This innovation improved issuance efficiency and removed settlement risks for domestic investors. Tokenisation offers potential for broader foreign capital access to Indian credit markets. Global investors could hold Indian assets alongside other international debt instruments. This upgrade aims to integrate Indian credit into global capital workflows.
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Mumbai: The Reserve Bank has rejected Tata Sons’ application to surrender its core investment company registration, killing the Tata Group holding company’s attempt to avoid a mandatory stock-market listing and setting the stage for it to become publicly traded, sources said Saturday. The rejection was conveyed in a letter received by Tata Sons’ company secretary […]
Finance Minister Nirmala Sitharaman on Thursday said tokenisation is emerging as a defining development in the financial system and urged the Reserve Bank of India to further develop its Central Bank Digital Currency (CBDC) capabilities as digital assets and financial platforms increasingly expand across borders.
REC asks UPPCL and discoms to respond to doubts over NABL accreditation of the lab that tested 24 smart meters under IS 16444 Parts 1 & 2.
Comprehensive Section Breakdown for REC
Strategic Vision: Public infrastructure finance company supporting power and infrastructure sectors.
• Registered as an Infrastructure Finance Company (IFC) under the Reserve Bank of India.
REC Limited’s performance for Q1 FY2026-27 (quarter ended 30 June 2026) delivered a modest contraction in core lending revenue, resulting in a 6% year-on-year decline in net profit. However, earnings were substantially supported by a large reversal of impairment charges and a sequential recovery in pre-tax profit. A major swing in other comprehensive income, driven by hedging-related items, elevated total comprehensive income but does not reflect recurring operational performance.
Profit before tax (PBT) was ₹5,268.30 crore, a 7.0% decline from ₹5,666.41 crore in Q1 FY2025-26, but a 19.3% increase from ₹4,414.54 crore in the preceding quarter. Net profit after tax (PAT) came in at ₹4,192.76 crore, down 6.1% year-on-year from ₹4,465.71 crore, while rising 24.2% sequentially from ₹3,375.08 crore.
The primary factor supporting earnings was a reversal of impairment on financial instruments, which recorded as a ₹966.58 crore income in the current quarter. This compares to a ₹609.79 crore reversal in the year-ago quarter and a ₹587.84 crore expense in the preceding quarter. The shift from an expense to a significant income reversal provided a substantial boost to pre-tax earnings.
Tax expense decreased 10.4% to ₹1,075.54 crore, reflecting the lower pre-tax profit. The net profit margin (PAT as a percentage of revenue from operations) declined from 30.3% in the year-ago quarter to 29.0% in the current quarter. Basic earnings per share fell to ₹15.92 from ₹16.96 a year earlier.
Total comprehensive income for the quarter was ₹7,439.95 crore, significantly higher than the ₹2,001.55 crore recorded a year earlier and the ₹328.25 crore of the preceding quarter. This increase was driven entirely by other comprehensive income (OCI), which swung from a ₹2,464.16 crore loss in the year-ago quarter to a ₹3,247.19 crore gain in the current quarter.
OCI movements typically reflect unrealized gains or losses on items such as cash flow hedges and do not represent core operating performance. Excluding OCI, the quarter's comprehensive income aligns with the reported net profit of ₹4,192.76 crore.
REC Limited's first quarter results show a modest 2% contraction in core lending revenue and a 6% year-on-year decline in net profit, primarily due to lower interest income. However, earnings were substantially supported by a large reversal of impairment charges and a sequential recovery in pre-tax profit. A major swing in other comprehensive income, driven by hedging-related items, elevated total comprehensive income but does not reflect recurring operational performance. The quarter's financial outcome highlights stable core profitability alongside significant non-operating and accounting adjustments.
Category: Financial Services
Provides debt funding for thermal, hydro, nuclear, and renewable energy power generation plants.
Category: Financial Services
Finances grid infrastructure, substations, and transmission networks.
Category: Financial Services
Provides financing for roads, highways, metro rails, airports, ports, and healthcare infrastructure.
Category: Financial Services
Offers loans for working capital and operational requirements of utilities.
Category: B2B Services
Acts as the nodal agency for government electrification and power sector reform programs.
Key Products & Services: Revamped Distribution Sector Scheme (RDSS) • Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya)
Core Thesis: Leverages capital markets to fund diverse power and infrastructure projects while acting as a nodal agency for government schemes.
• Debt Funding: Provides debt funding and loan products across generation, transmission, distribution, and broader infrastructure projects. • Capital Raising: Raises capital through domestic and international debt markets to support lending operations. • Government Program Execution: Serves as a nodal agency for key government electrification and power sector reform initiatives.