# RECLTD (RECLTD) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/recltd

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹311.05
- Change: +0.18%
- As of: 2026-09-18
- 1D return: +0.48%
- 5D return: -0.57%
- 1M return: -4.91%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 17, 2026, RECLTD is trading below key moving averages across daily, weekly, and monthly timeframes, indicating a bearish technical stance. The daily trend shows a strong bearish signal with an ADX of 53.1 and the Supertrend indicator in a bearish direction. This aligns with the weekly and monthly timeframes, which also exhibit bearish Supertrend directions and prices below their respective moving averages, suggesting a consistent downtrend across multiple periods. The stock is currently trading near its immediate support level of ₹310.48, which is approximately 0.01% below the current price of ₹310.5. The nearest resistance is observed at ₹312.28, about 0.57% above the current price.

Recent market activity shows 2 downside events and 1 neutral event in the last 30 days, with no positive attention events. The stock's risk profile includes an annualized volatility of 32% and a current drawdown of -42%, with a maximum drawdown of -43%. This suggests a heightened risk environment. The formation of an "Inside Bar" on the daily chart on September 17, 2026, indicates potential consolidation or a pause in the current trend, but the broader bearish indicators remain dominant.

Key watch conditions include monitoring the price action around the immediate support at ₹310.48. A sustained break below this level could signal further downside. Conversely, a decisive move above the nearest resistance at ₹312.28, supported by increasing volume, would be needed to challenge the prevailing bearish sentiment. The alignment of all timeframes in a bearish trend suggests that any upward movements may face significant overhead resistance from the moving averages.

- The stock's technical stance is bearish across daily, weekly, and monthly timeframes as of September 17, 2026, with prices trading below key moving averages and Supertrend indicators indicating a downtrend.
- Immediate support is located at ₹310.48 (0.01% below current price), with the nearest resistance at ₹312.28 (0.57% above current price).
- The stock exhibits significant risk with an annualized volatility of 32% and a current drawdown of -42%.
- A daily 'Inside Bar' pattern was observed on September 17, 2026, suggesting potential consolidation.
- Watch for a break below ₹310.48 as a potential downside confirmation, or a move above ₹312.28 with increased volume as a sign of potential trend change.

- Inside Bar
- Harami
- Bearish Engulfing Reversal
- Doji
- Hammer

### News Context

In the week ending September 18, 2026, REC Ltd. was mentioned in the context of market predictions and dividend yields. On September 16, 2026, market analyst Vaishali Parekh included REC in a list of three stocks for potential buy or sell consideration, alongside Dabur India and HUL, in anticipation of a gap-up opening for the market. Additionally, REC was highlighted on September 14, 2026, as a Public Sector Undertaking (PSU) stock with a notable dividend yield. Specifically, REC was reported to have a yield of 5.4% in FY26, placing it among top PSU dividend payers like ONGC and BPCL.

- On September 16, 2026, market analyst Vaishali Parekh identified REC as a stock for potential trading consideration.
- On September 14, 2026, REC was noted for its dividend yield, reported at 5.4% for FY26.
- REC was listed among top PSU stocks with significant dividend yields in FY26.

- Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times
- Five safe dividend stocks to beat inflation in India
- Market prediction: Gift Nifty up; Vaishali Parekh picks three buy or sell stocks — REC, Dabur India, HUL
- PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?
- Will asset tokenization live up to its promise? Here's what India must do for Demat 2.0 to succeed | Mint

### What Changed

Recent news highlights India's pilot tokenized bond issuance, which successfully settled transactions on a distributed ledger as of an unspecified date. This innovation is noted for improving issuance efficiency and reducing settlement risks for domestic investors, with potential to broaden foreign capital access to Indian credit markets. The company's stock price saw a slight decrease, closing at ₹310.5 on September 17, 2026, down from ₹312.65 the previous day. No other recent developments or changes in market context were provided.

- News on September 18, 2026, discussed India's pilot tokenized bond issuance, aiming to enhance efficiency and foreign capital access.
- The stock price for RECLTD was ₹310.5 on September 17, 2026.
- The stock price on September 16, 2026, was ₹312.65.

- Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times

### Official Filings

On September 9, 2026, REC Limited announced the sale of its subsidiary, Musalgaon Power Transmission Limited, to Maharashtra State Electricity Transmission Company Limited for ₹22,089,930. This subsidiary reported zero turnover and revenue in the prior year, with a net worth of negative ₹35,298,660,000,000. Separately, on September 7, 2026, REC Limited successfully issued India's first pilot issue of tokenized corporate bonds under the SEBI Regulatory Sandbox Framework. The issue size was ₹500 crore, with a coupon of 7.30% for a tenor of 1 year 9 months, and was oversubscribed by approximately 8 times. This tokenized issuance enabled same-day pay-in, allotment, and listing on both NSE and BSE. Additionally, on September 7, 2026, Japan Credit Rating Agency, Ltd. (JCR) revised REC Limited's long-term issuer credit rating from 'BBB+' to 'A-' with a Stable Outlook. The company also appointed new joint Statutory Auditors, M/s. G. S. Mathur & Co. and M/s. S. K. Mehta & Co., for the financial year 2026-27, effective September 7, 2026.

- On September 9, 2026, REC Limited sold its subsidiary Musalgaon Power Transmission Limited for ₹22,089,930.
- On September 7, 2026, REC Limited issued ₹500 crore of tokenized corporate bonds at a 7.30% coupon, which was oversubscribed by ~8x.
- On September 7, 2026, REC Limited's long-term issuer credit rating was revised from 'BBB+' to 'A-' by JCR, with a Stable Outlook.
- On September 7, 2026, M/s. G. S. Mathur & Co. and M/s. S. K. Mehta & Co. were appointed as joint Statutory Auditors for FY 2026-27.
- On September 2, 2026, REC Limited confirmed the payment of ₹53,99,01,364 in semi-annual interest for NCD Series GOI-IX.

- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- REC LIMITED has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL
- Intimation of sale and transfer of project specific SPV/Subsidiary. |SUBJECT: General Updates
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- REC LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
- REC Limited has informed the Exchange regarding Change in Auditors of the company. |SUBJECT: Change in Auditors
- Intimation of revision in Credit Rating and its Outlook. |SUBJECT: Credit Rating- Revision
- Press Release REC Limited Successfully issued India s First Pilot Issue on Tokenized Corporate Bonds under SEBI Regulatory Sandbox Framework. |SUBJECT: General Updates
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Beacon Trusteeship Limited has informed the exchange for REC Limited regarding NOC/No dues certificate/consent/permission of ISIN INE020B08EK4 for the FY 2026-2027 |SUBJECT: NOC/No dues certificate/consent/permission

### Fundamentals

REC's reported results show a mixed operating trajectory across recent quarters. Revenue from operations has seen a slight sequential decline, moving from ₹15,017.70 crore in Q3 FY2025-26 to ₹14,434.92 crore in Q1 FY2026-27. Despite this, Profit Before Tax (PBT) has shown resilience, increasing from ₹5,136.43 crore in Q3 FY2025-26 to ₹5,268.30 crore in Q1 FY2026-27. The company's net profit, or Profit Loss For Period, followed a similar pattern, rising to ₹4,192.76 crore in Q1 FY2026-27 from ₹4,052.44 crore in Q3 FY2025-26. However, Comprehensive Income For The Period experienced significant volatility, dropping sharply to ₹328.25 crore in Q4 FY2025-26 before rebounding to ₹7,439.95 crore in Q1 FY2026-27. This volatility in comprehensive income appears linked to fluctuations in Other Comprehensive Income, which ranged from a gain of ₹676.12 crore in Q3 FY2025-26 to a substantial loss of -₹3,046.83 crore in Q4 FY2025-26, and then a large gain of ₹3,247.19 crore in Q1 FY2026-27. Investors may want to monitor the drivers behind the fluctuations in Other Comprehensive Income and their impact on overall comprehensive income.

- Revenue from operations was ₹15,017.70 crore in Q3 FY2025-26, ₹14,563.82 crore in Q4 FY2025-26, and ₹14,434.92 crore in Q1 FY2026-27.
- Profit Before Tax was ₹5,136.43 crore in Q3 FY2025-26, ₹4,414.54 crore in Q4 FY2025-26, and ₹5,268.30 crore in Q1 FY2026-27.
- Profit Loss For Period was ₹4,052.44 crore in Q3 FY2025-26, ₹3,375.08 crore in Q4 FY2025-26, and ₹4,192.76 crore in Q1 FY2026-27.
- Comprehensive Income For The Period showed significant variation: ₹4,728.56 crore in Q3 FY2025-26, ₹328.25 crore in Q4 FY2025-26, and ₹7,439.95 crore in Q1 FY2026-27.
- Other Comprehensive Income fluctuated from ₹676.12 crore in Q3 FY2025-26 to -₹3,046.83 crore in Q4 FY2025-26, and ₹3,247.19 crore in Q1 FY2026-27.

### Bull Case

REC's market setup shows potential for broader foreign capital access to Indian credit markets, driven by innovations like tokenized bond issuances. This technological advancement aims to improve issuance efficiency and reduce settlement risks, potentially integrating Indian credit into global capital workflows. Additionally, REC has been noted for its dividend yield, positioning it among select public sector undertakings (PSUs) with strong payout histories, which can be attractive for investors seeking to hedge against inflation.

- REC is mentioned in the context of India's tokenized bond issuance, an innovation aimed at improving efficiency and reducing settlement risks for domestic and potentially foreign investors.
- The company's dividend yield was highlighted as 5.4% in FY26, placing it among PSUs with notable dividend payouts.
- REC was identified as a stock with a strong payout history and healthy yield, potentially offering a way to beat inflation.

- Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times
- Five safe dividend stocks to beat inflation in India
- Market prediction: Gift Nifty up; Vaishali Parekh picks three buy or sell stocks — REC, Dabur India, HUL
- PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?
- Will asset tokenization live up to its promise? Here's what India must do for Demat 2.0 to succeed | Mint

### Bear Case

The company's technical indicators suggest a prevailing bearish trend. Daily, weekly, and monthly analyses show the Supertrend indicator in a bearish direction, with the latest daily reading at 330.87 and monthly at 461.76. Moving averages also indicate downward pressure, with the 20-day Exponential Moving Average (EMA) at 320.22 and the 50-day EMA at 333.68 on the daily chart, both above the current closing price of ₹310.5. Recent performance metrics show negative returns across various periods, including a -19% return over the last year and -16% year-to-date. The stock is also experiencing a significant drawdown, with the current drawdown at -42% and a maximum drawdown of -43%.

- The Supertrend indicator is in a bearish direction on daily, weekly, and monthly timeframes as of 2026-09-17.
- The 20-day EMA (₹320.22) and 50-day EMA (₹333.68) on the daily chart are above the current closing price of ₹310.5.
- The company has experienced a -19% return over the past year and a -16% year-to-date return.
- The current drawdown stands at -42%, with a maximum drawdown recorded at -43%.

- Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times
- Five safe dividend stocks to beat inflation in India
- Market prediction: Gift Nifty up; Vaishali Parekh picks three buy or sell stocks — REC, Dabur India, HUL
- PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?
- Will asset tokenization live up to its promise? Here's what India must do for Demat 2.0 to succeed | Mint

### FAQs

**What was the nature of REC Limited's recent subsidiary sale?**

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.

**What is the current technical trend for REC Limited?**

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.

**How has REC Limited performed in terms of returns over different periods?**

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.

**What are the key support and resistance levels for REC Limited?**

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.

- Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times
- Five safe dividend stocks to beat inflation in India
- Market prediction: Gift Nifty up; Vaishali Parekh picks three buy or sell stocks — REC, Dabur India, HUL
- PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?
- Will asset tokenization live up to its promise? Here's what India must do for Demat 2.0 to succeed | Mint
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- REC LIMITED has informed the Exchange regarding Sale or disposal of unit(s)/division(s)/subsidiary |SUBJECT: Sale or disposal-XBRL
- Intimation of sale and transfer of project specific SPV/Subsidiary. |SUBJECT: General Updates
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- REC LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA
## Technical analytics

- As of: 2026-09-18
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹312.02
- Risk regime: Higher Price Risk

### Support levels
- 309.4875
- 304.05
- 308.9833333333333

### Resistance levels
- 345
- 364.7
- 428.7

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.48% |
| return_10 | -0.51% |
| return_1m | -7.83% |
| return_1y | -18.83% |
| return_20 | -4.91% |
| return_3m | -13.02% |
| return_5 | -0.57% |
| return_6m | -10.36% |
| return_since_start | -38.29% |
| return_ytd | -15.15% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -43.30% |
| annualized_volatility | +32.29% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Core Lending Income Contracts Slightly as Impairment Reversals and Hedging Gains Support Quarterly Earnings

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.

## Revenue and Interest Income
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.

## Profitability and Key Drivers
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.

## Comprehensive Income and Hedging Volatility
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.

## Key Takeaway
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.

### Ratios

## Official filings

- 2026-09-16 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_16092026153129_TPC_183_Signed.pdf)
- 2026-09-09 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20260909_175554261.xml)
- 2026-09-09 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_09092026175244_Signed_Sale_of_SPV_09092026.pdf)
- 2026-09-08 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_08092026144419_TPC_GOI-VII_signed.pdf)
- 2026-09-08 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2733_WebXMLFile_20260908_190608388.xml)
- 2026-09-08 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_08092026190153_Signed_Appointment_of_Statutory_Auditors_08092026.pdf)
- 2026-09-07 — Credit Rating Update: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_07092026141518_Signed_Intimation_of_revision_in_Credit_Rating.pdf)
- 2026-09-07 — Press Release: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_07092026192505_Signed_Press_Release_07092026.pdf)
- 2026-09-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02092026145105_TPC_signed_02-09-2026_ocr.pdf)
- 2026-09-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BTL_02092026173333_SupplementalNOC_REC.pdf)
- 2026-09-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BTL_02092026173333_SupplementalNOC_REC.pdf)
- 2026-09-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/BTL_02092026173333_SupplementalNOC_REC.pdf)
- 2026-08-31 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_31082026153707_TPC_31-08-2026_dsc.pdf)
- 2026-08-31 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_31082026153707_TPC_31-08-2026_dsc.pdf)
- 2026-08-31 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_31082026175131_tpc_29-08-2026__1_.pdf)
- 2026-08-27 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_27082026134316_TPC_163_signed.pdf)
- 2026-08-27 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_27082026192336_Signed_Voting_Results_57th_AGM.pdf)
- 2026-08-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_26082026113359_Signed_ntimation_Fines.pdf)
- 2026-08-25 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_25082026110945_TPC_24082026_OCR.pdf)
- 2026-08-25 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_25082026231626_Signed_Intimation_57th_AGM_Proceedings.pdf)
- 2026-08-25 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_25082026225928_Signed_Incorporation_of_SPV_25082026.pdf)
- 2026-08-25 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20260825_233436147.xml)
- 2026-08-25 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20260825_233017581.xml)
- 2026-08-21 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20260821_201446846.xml)
- 2026-08-21 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_21082026200910_Signed_Sale_of_SPV_21082026.pdf)

## News and market events

- 2026-09-17 — Economic Times: **Credit where credit's due: India's tokenised bonds must now open the door to global capital - The Economic Times** — 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. — [Source](https://economictimes.indiatimes.com/opinion/et-commentary/credit-where-credits-due-indias-tokenised-bonds-must-now-open-the-door-to-global-capital/articleshow/134318332.cms)
- 2026-09-17 — Mint: **Five safe dividend stocks to beat inflation in India** — With inflation putting pressure on purchasing power, here are 5 dividend stocks with strong payout histories and healthy yields. — [Source](https://www.livemint.com/market/stock-market-news/dividend-stocks-in-india-best-dividend-stocks-high-dividend-yield-stocks-11789555861801.html)
- 2026-09-16 — Mint: **Market prediction: Gift Nifty up; Vaishali Parekh picks three buy or sell stocks — REC, Dabur India, HUL** — Stock market prediction: Vaishali Parekh has predicted a gap-up opening, as the Gift Nifty live chart is trading above yesterday's spot Nifty 50 close and its previous close — [Source](https://www.livemint.com/market/stock-market-news/market-prediction-gift-nifty-up-vaishali-parekh-picks-three-buy-or-sell-stocks-rec-dabur-india-hul-11789526498238.html)
- 2026-09-14 — Mint: **PSU dividend kings: ONGC, BPCL, HPCL, Coal India, among top 8 PSU stocks with highest dividend yield | Crown goes to?** — In FY26, PSU stocks like Coal India and ONGC deliver notable dividend yields. MSTC, REC, and ONGC feature yields at 5.4%, 5.9%, and 5.7%. Check full list of top PSU stocks with highest dividend yield — [Source](https://www.livemint.com/market/stock-market-news/psu-dividend-kings-ongc-bpcl-hpcl-coal-india-among-top-8-psu-stocks-with-highest-dividend-yield-crown-goes-to-11789362315354.html)
- 2026-09-14 — Mint: **Will asset tokenization live up to its promise? Here's what India must do for Demat 2.0 to succeed | Mint** — Launched by the Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi), Demat 2.0 has seen some high-profile tokenized bond issuances. Tokenization holds the promise of a superior market, but we can’t take its success for granted. Here's what must be done. — [Source](https://www.livemint.com/opinion/online-views/asset-tokenization-demat-2-0-what-india-must-do-for-it-to-succeed-gold-land-rbi-l-t-iifl-crypto-11789303132548.html)
- 2026-09-12 — Orissa POST: **RBI rejects Tata Sons' bid to surrender NBFC licence, setting stage for mandatory listing - OrissaPOST** — 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 […] — [Source](https://www.orissapost.com/rbi-rejects-tata-sons-bid-to-surrender-nbfc-licence-setting-stage-for-mandatory-listing)
- 2026-09-11 — NEWS.WEBINDIA123.COM: **Tokenisation is arriving, RBI must sharpen digital rupee capabilities: FM Sitharaman** — 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. — [Source](https://news.webindia123.com/news/articles/business/20260911/4497418.html)
- 2026-09-09 — Times of India: **REC seeks UPPCL response on smart meter test lab accreditation doubts** — 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. — [Source](https://timesofindia.indiatimes.com/city/lucknow/rec-seeks-uppcl-response-on-smart-meter-test-lab-accreditation-doubts/articleshow/133982698.cms)
- 2026-09-08 — MONEYCONTROL: **Axis AMC PMS fund dumps DMart on q-comm squeeze, exits REC over state discom credit risks** — Axis AMC, PMS, Alternates, Axis brokerage. portfolio management — [Source](https://www.moneycontrol.com/news/business/markets/axis-amc-pms-fund-dumps-dmart-on-q-comm-squeeze-exits-rec-over-state-discom-credit-risks-14024970.html)
- 2026-09-07 — CNBC-TV18: **REC issues ₹500 crore Tokenised Corporate Bond in India's first SEBI sandbox pilot** — Shares of REC Ltd ended at ₹316.50, down by ₹3.00, or 0.94%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/rec-share-price-issues-rs-500-crore-tokenised-corporate-bond-in-indias-first-sebi-sandbox-pilot-19985909.htm)
- 2026-09-07 — MONEYCONTROL: **HDFC Bank, ICICI Bank among buyers of India’s first tokenised bond issued by REC** — HDFC Bank, ICICI Bank, REC Ltd — [Source](https://www.moneycontrol.com/news/business/companies/hdfc-bank-icici-bank-among-buyers-of-india-s-first-tokenised-bond-issued-by-rec-14024641.html)
- 2026-09-03 — CNBC-TV18: **Dividend hunters, take note: These 10 stocks offer nearly 10% yield** — TCS, HCLTech, GAIL, and ONGC feature among 10 stocks offering some of the highest dividend yields based on FY26 adjusted payouts. PTC India leads the list at nearly 10%, followed by Coal India and REC. — [Source](https://www.cnbctv18.com/photos/market/dividend-stocks-tcs-hcltech-gail-rec-ongc-ptc-india-offer-up-to-10-pc-yield-report-19983365.htm)
- 2026-08-26 — The Hindu: **BSE, NSE fine NTPC, SJVN, REC for non-compliance** — BSE and NSE impose ₹59.14 crore fines on NTPC, SJVN, and REC for non-compliance with listing regulations. — [Source](https://www.thehindubusinessline.com/markets/bse-nse-fine-ntpc-sjvn-rec-for-non-compliance/article71392246.ece)
- 2026-08-26 — CNBC-TV18: **AI data centres could lift India's annual power demand growth from 5.5% to 6%: Bernstein** — Bernstein's Nikhil Nigania says AI-driven data centers could lift India's power demand growth to 6% annually, while a renewable tender priced below thermal power marks a shift in the sector. He also flags loan book pressure at PFC and REC. His top picks span L&T, JSW Energy, NTPC and Adani Green. — [Source](https://www.cnbctv18.com/market/bernstein-artificial-intelligence-data-centers-india-power-demand-growth-6-jsw-energy-larsen-toubro-ntpc-pfc-rec-thermal-solar-energy-19977337.htm)
- 2026-08-25 — Economic Times: **Bernstein cuts PFC, REC target prices as bank competition weighs on loan growth** — Bernstein has retained an Outperform rating on Power Finance Corporation (PFC) and REC but cut its target prices and loan-growth estimates, citing stronger competition from banks, slower renewable capacity additions and improving financial health among state-owned DISCOMs. The brokerage lowered its target to Rs 465 for PFC and Rs 410 for REC, while reducing FY26-FY28 loan-book growth estimates to 7%. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/bernstein-cuts-pfc-rec-target-prices-as-bank-competition-weighs-on-loan-growth/articleshow/133498418.cms)
- 2026-08-25 — MONEYCONTROL: **Cholamandalam to sell largest India perpetual bonds by a non-bank** — cholamandalam, cholamandalam investment and finance — [Source](https://www.moneycontrol.com/banking/cholamandalam-to-sell-largest-india-perpetual-bonds-by-a-non-bank-article-14014885.html)
- 2026-08-25 — BUSINESSTODAY: **PFC, REC shares: Why Bernstein sees 37-41% upside for two Maharatna PSU stocks** — PFC share price, REC share price: PFC Bernstein target, REC Bernstein target, Maharatna PSU stocks, PSU stocks, PFC target, REC target — [Source](https://www.businesstoday.in/markets/stocks/story/pfc-rec-shares-why-bernstein-sees-37-41-upside-for-two-maharatna-psu-stocks-551111-2026-08-25)
- 2026-08-20 — CNBC-TV18: **Sensex rises 628 points, Nifty reclaims 24,200: 5 reasons why stock market snapped 7-day losing streak** — The BSE Sensex rose 628 points to 77,538, while the Nifty gained 154 points to 24,232. The Nifty Bank index advanced 256 points to 57,496, while the Nifty Midcap index gained 263 points to 63,672. — [Source](https://www.cnbctv18.com/market/sensex-rises-628-points-nifty-reclaims-24200-5-reasons-why-stock-market-snapped-7-day-losing-streak-19973681.htm)
- 2026-08-20 — Economic Times: **Power Finance Corporation and REC shares fall up to 3% after Morgan Stanley downgrade** — PFC and REC shares fell on Thursday after Morgan Stanley downgraded both stocks to Equal-Weight and cut their target prices. The brokerage flagged slower loan growth and lowered earnings estimates for FY28 and FY29. The downgrade comes ahead of the proposed PFC-REC merger, with both stocks already under pressure. — [Source](https://cfo.economictimes.indiatimes.com/news/power-finance-corporation-and-rec-shares-fall-up-to-3-after-morgan-stanley-downgrade/133373124)
- 2026-08-20 — Economic Times: **Power Finance Corporation and REC shares fall up to 3% after Morgan Stanley downgrade** — PFC and REC shares fell on Thursday after Morgan Stanley downgraded both stocks to Equal-Weight and cut their target prices. The brokerage flagged slower loan growth and lowered earnings estimates for FY28 and FY29. The downgrade comes ahead of the proposed PFC-REC merger, with both stocks already under pressure. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/power-finance-corporation-and-rec-shares-fall-up-to-3-after-morgan-stanley-downgrade/articleshow/133367186.cms)
- 2026-08-20 — CNBC-TV18: **'Consensus buy' PFC, 'no sell' REC get downgraded; Check rationale and new targets** — Any potential recovery for both REC and PFC from hereon, will only be gradual, according to Morgan Stanley, who, as a result, has also cut its earnings estimates for both these companies. — [Source](https://www.cnbctv18.com/market/rec-pfc-share-price-morgan-stanley-downgrades-target-returns-factors-key-risks-returns-19973316.htm)
- 2026-08-13 — Mint: **IRFC: Why the railway stock keeps falling despite record profit** — IRFC delivered its strongest-ever quarter, but a shrinking loan book, falling margins, government stake sales and a still-premium valuation are weighing on the stock. — [Source](https://www.livemint.com/market/stock-market-news/irfc-why-the-railway-stock-keeps-falling-despite-record-profit-11786551327127.html)
- 2026-08-10 — CNBC-TV18: **Sensex, Nifty end higher after CAS adjustment: What drove today’s trade?** — BSE Sensex and NSE Nifty ended higher on Monday after CAS adjustments. Sensex rose 43 pts to 78,542, Nifty gained 13 pts to 24,584. Hitachi Energy, Paytm, Pine Labs surged. Bharat Forge, PFC, REC fell — [Source](https://www.cnbctv18.com/market/sensex-nifty-end-higher-after-cas-adjustment-what-drove-todays-trade-19965677.htm)
- 2026-08-10 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: CLSA cuts target for REC,PFC; GIFT Nifty trades flat** — Sensex Today | Stock Market LIVE Updates: The Nifty holding 24,500 on the downside could be considered positive as it could indicate the formation of a base and the bulls would want the index to hold on to those levels. On the upside, Monday's closing level of 24,774 and then the 24,800 mark will be key to watch. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-oil-banks-midcaps-bajaj-fin-pfc-kaynes-ola-bharat-forge-share-price-liveblog-19965161.htm)
- 2026-08-07 — BUSINESSTODAY: **HDFC Bank, PB Fintech shares removed from Jefferies long-only portfolio; MCX, Lenskart in** — HDFC Bank share price today, MCX share, Lenskart share, HDFC Bank share, MCX share price — [Source](https://www.businesstoday.in/markets/stocks/story/hdfc-bank-pb-fintech-shares-removed-from-jefferies-long-only-portfolio-mcx-lenskart-in-547874-2026-08-07)

## Business profile

**Strategic vision:** Public infrastructure finance company supporting power and infrastructure sectors.

### Business segments
- **Generation Projects Financing:** Provides debt funding for thermal, hydro, nuclear, and renewable energy power generation plants.
- **Transmission & Distribution Financing:** Finances grid infrastructure, substations, and transmission networks.
- **Infrastructure & Logistics Financing:** Provides financing for roads, highways, metro rails, airports, ports, and healthcare infrastructure.
- **Short-term & Medium-term Loans:** Offers loans for working capital and operational requirements of utilities.
- **Nodal Agency Roles:** Acts as the nodal agency for government electrification and power sector reform programs.

### Competitive strengths
- Registered as an Infrastructure Finance Company (IFC) under the Reserve Bank of India.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/recltd
Markdown representation: https://faxioms.com/stocks/recltd?render=md