# REC (RECLTD) — Stock analysis

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

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹296.65
- Change: +0.30%
- As of: 2026-11-06
- 1D return: +0.30%
- 5D return: +3.87%
- 1M return: +0.56%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

As of 2026-11-06, RECLTD (₹296.65) exhibits a bearish technical structure across daily, weekly, and monthly horizons, with price trading below all key moving averages and the Supertrend indicator. The monthly trend is strong (ADX 61.95), while the daily trend is established (ADX 32.24). Despite this broader weakness, short-term momentum shows mixed signals: the stock closed above its 20-period EMA on Friday following a +3.0% upward gap, yet it remains below the 50-period SMA and other longer-term averages. Participation was high but directionless on a monthly basis, while recent daily anomalies include a wide intraday range and a Harami formation that has since expired. The stock is positioned near the lower end of its 252-day range (+13.9%) and faces immediate resistance at ₹298.75–₹299.00 (0.71–0.79% above). Support lies at ₹294.00 (pivot, -0.89%). With a current drawdown of -44.9% and annualized volatility of +32.2%, risk remains elevated. A sustained close above ₹299.00 would be required to challenge the immediate bearish bias, while a break below ₹294.00 could signal further downside toward ₹291.00.

- Trend Structure: Bearish across daily, weekly, and monthly timeframes; price is below all supplied moving averages and the Supertrend indicator.
- Momentum & Positioning: Short-term bounce evident (price above 20-period EMA, +3.0% gap on 2026-11-05), but long-term trend remains down (-18.2% return over 1 year).
- Key Levels: Immediate resistance at ₹298.75–₹299.00 (0.71–0.79% above); pivot support at ₹294.00 (-0.89% below).
- Risk Profile: High volatility (+32.2% annualized) and significant historical drawdown (-44.9% current, -47.1% maximum).

- Harami
- Outside Bar
- Bearish Engulfing Reversal
- Inside Bar

### Official Filings

REC Limited’s recent disclosures highlight a pivotal transition period marked by operational growth, leadership changes, and a significant structural merger. The company reported a loan book of ₹6.17 lakh crores as of September 30, 2026, reflecting 6% year-on-year growth, with H1 FY’27 net profit standing at ₹7,541 crores. Management guided for 10%–12% loan-book growth in FY’27 and declared total dividends of ₹7.75 per share for the current year. A critical development is the proposed merger where REC will be absorbed into Power Finance Corporation (PFC); the draft scheme has received Board resolutions and NOCs from the RBI and stock exchanges but remains pending Cabinet approval. Concurrently, Executive Director J.K. Nayak ceased duties on October 30, 2026, following his appointment as CMD of Indian Renewable Energy Development Agency Limited. On the project front, the company incorporated Zanskar Renewable Energy Limited to facilitate a 140 MWp Solar + 400 MWh BESS Plant in Ladakh, which will be transferred upon bidder selection under Tariff Based Competitive Bidding guidelines.

- Merger Status: REC is proposed to be absorbed into PFC; the draft scheme has secured Board approvals and regulatory NOCs from RBI and stock exchanges but awaits final Cabinet approval.
- Financial Performance & Guidance: Loan book grew 6% YoY to ₹6.17 lakh crores at Sep 30, 2026; H1 FY’27 net profit was ₹7,541 crores; management guided for 10%–12% loan-book growth in FY’27.
- Dividend Declaration: Total dividends of ₹7.75 per share declared for the current financial year, including ₹3.5 per share for Q2.
- Leadership Change: Shri J.K. Nayak relieved as Executive Director effective October 30, 2026, upon appointment as Chairman & Managing Director of Indian Renewable Energy Development Agency Limited.

- [Transcript of Investors Conference Call held on October 29, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_04112026171131_Signed_Transcript_Intimation_04112026.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- [REC Limited has informed the Exchange about change in Senior Management. |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/RECLTD_31102026095705_Signed_Intimation_regarding_change_inSM_311026.pdf)
- [REC LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2733_WebXMLFile_20261031_172855816.xml)
- [Intimation of incorporation of subsidiary company. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/RECLTD_30102026133207_Signed_Intimation_of_incorporation31102026.pdf)
- [Intimation of audio recording of Investors Conference Call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_29102026183819_Signed_Intimation_29102026.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_28102026120134_Q2_FY_26-27.pdf)
- [Security Cover |SUBJECT: Security Cover](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_27102026123940_Security_Cover_Q2.pdf)

### Fundamentals

REC’s Q2 FY2026-27 results (Sep 2026) reveal a divergence between top-line stability and bottom-line compression. Revenue remained flat at ₹15,000 crore compared to the prior year, while Net Profit fell 21% to ₹3,478 crore. This contraction was driven by a sequential rise in Finance Costs to ₹9,522 crore (+₹774 crore from Q1) and a significant reversal in impairment benefits, which swung from a ₹967 crore credit in Q1 to a ₹352 crore charge in Q2. Consequently, Basic EPS declined from ₹15.92 to ₹13.21.

Despite recent quarterly softness, the balance sheet shows robust expansion. Total Assets grew to ₹6,74,188 crore and Loans increased to ₹6,12,678 crore as of Sep 2026. Borrowings rose to ₹2,01,541 crore, reflecting continued funding for asset growth. Cash flow dynamics have improved significantly; Operating Cash Flow turned positive at ₹5,972 crore in FY2026, up from negative territory in previous years, though Financing Cash Flow remained negative (-₹2,375 crore), indicating debt repayment or dividend outflows. Shareholding patterns show stable promoter holding at 52.63%, with DIIs increasing their stake to 16.55%.

The key tension is the margin pressure: Financing Margin % dropped to 29.0% in Q2 from 37.0% in the prior year period, signaling tighter spreads or higher cost of funds relative to earning assets.

- Net Profit contracted to ₹3,478 crore in Q2 FY2026-27, down from ₹4,193 crore in Q1, primarily due to rising finance costs and a shift from impairment credits to charges.
- Financing Margin % fell to 29.0% in Sep 2026 from 37.0% in Sep 2025, indicating compressed profitability on lending operations.
- Balance sheet expanded materially: Loans reached ₹6,12,678 crore and Assets grew to ₹6,74,188 crore as of Sep 2026, supporting long-term revenue potential.
- Operating Cash Flow turned positive at ₹5,972 crore in FY2026, improving from -₹39,064 crore in FY2025, suggesting better cash generation efficiency.

### Bear Case

Technical indicators for REC on the NSE as of November 6, 2026, present a consistent bearish outlook across daily, weekly, and monthly timeframes. The stock is trading at ₹296.65, with Supertrend signals indicating a downtrend on all analyzed periods. Momentum is weak, evidenced by the Minus DI (22.11) exceeding the Plus DI (18.89) on the daily chart, and a significantly wider gap on the weekly chart (Minus DI 31.09 vs. Plus DI 13.01). The stock has experienced substantial downside, with a year-to-date return of -19.3% and a one-year return of -18.2%. Volatility remains elevated, with an annualized volatility of +32.2% and a current drawdown of -44.9%, nearing the maximum historical drawdown of -47.1%. While short-term support exists near ₹294.00, resistance is immediate just above the current price at ₹298.75.

- Supertrend signals are bearish on daily, weekly, and monthly charts, confirming sustained downward momentum.
- The stock has declined 19.3% year-to-date and 18.2% over the past year, with a current drawdown of -44.9%.
- Momentum indicators show selling pressure, with Minus DI significantly higher than Plus DI on both daily and weekly timeframes.
- High volatility persists, with annualized volatility at +32.2% and resistance levels clustered tightly between ₹298.75 and ₹301.75.

- [Dividend stocks: Coal India, TCS, HUDCO, HCL Tech, GAIL among top 10 dividend paying stocks - Check yield, annual return | Stock Market News](https://www.livemint.com/market/stock-market-news/dividend-stocks-coal-india-tcs-hudco-hcl-tech-gail-among-top-10-dividend-paying-stocks-check-yield-annual-return-11793892901046.html)
- [Bond rally spurs rush to tap debt market as borrowing costs ease](https://www.thehindubusinessline.com/money-and-banking/bond-rally-spurs-rush-to-tap-debt-market-as-borrowing-costs-ease/article71656844.ece)
- [Transcript of Investors Conference Call held on October 29, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_04112026171131_Signed_Transcript_Intimation_04112026.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- [REC Limited has informed the Exchange about change in Senior Management. |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/RECLTD_31102026095705_Signed_Intimation_regarding_change_inSM_311026.pdf)
- [REC LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2733_WebXMLFile_20261031_172855816.xml)
- [Intimation of incorporation of subsidiary company. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/RECLTD_30102026133207_Signed_Intimation_of_incorporation31102026.pdf)
- [Intimation of audio recording of Investors Conference Call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_29102026183819_Signed_Intimation_29102026.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_28102026120134_Q2_FY_26-27.pdf)
- [Security Cover |SUBJECT: Security Cover](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_27102026123940_Security_Cover_Q2.pdf)

### FAQs

**What are REC's latest financial results and dividend expectations for FY'27?**

For H1 FY'27 (ending September 30, 2026), REC reported a net profit of ₹7,541 crores and a loan book of ₹6.17 lakh crores, up 6% year-on-year. Management declared total dividends of ₹7.75 for the current year, including ₹3.5 in Q2. The company guided for 10%–12% loan-book growth in FY'27.

**What is the status of the proposed merger with PFC?**

REC will be absorbed into Power Finance Corporation (PFC). The draft scheme has received Board resolutions and No Objection Certificates from the RBI and stock exchanges. However, the merger remains pending final approval from the Cabinet.

**How has REC's stock performance tracked over the past year?**

As of November 6, 2026, REC shares closed at ₹296.65. The stock has declined 18.2% over the past year and 19.3% year-to-date. Technical indicators show a bearish trend on daily, weekly, and monthly timeframes, with the stock currently trading near support levels around ₹294.

**Has there been any recent change in senior management?**

Yes. Shri J.K. Nayak ceased to be Executive Director on October 30, 2026, following his appointment as Chairman & Managing Director of Indian Renewable Energy Development Agency Limited.

- [Dividend stocks: Coal India, TCS, HUDCO, HCL Tech, GAIL among top 10 dividend paying stocks - Check yield, annual return | Stock Market News](https://www.livemint.com/market/stock-market-news/dividend-stocks-coal-india-tcs-hudco-hcl-tech-gail-among-top-10-dividend-paying-stocks-check-yield-annual-return-11793892901046.html)
- [Bond rally spurs rush to tap debt market as borrowing costs ease](https://www.thehindubusinessline.com/money-and-banking/bond-rally-spurs-rush-to-tap-debt-market-as-borrowing-costs-ease/article71656844.ece)
- [Transcript of Investors Conference Call held on October 29, 2026. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_04112026171131_Signed_Transcript_Intimation_04112026.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- [REC Limited has informed the Exchange about change in Senior Management. |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/RECLTD_31102026095705_Signed_Intimation_regarding_change_inSM_311026.pdf)
- [REC LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2733_WebXMLFile_20261031_172855816.xml)
- [Intimation of incorporation of subsidiary company. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/RECLTD_30102026133207_Signed_Intimation_of_incorporation31102026.pdf)
- [Intimation of audio recording of Investors Conference Call. |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/RECLTD_29102026183819_Signed_Intimation_29102026.pdf)
- [Disclosure under Regulation 7(1) |SUBJECT: Disclosure under Regulation 7(1)](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_28102026120134_Q2_FY_26-27.pdf)
- [Security Cover |SUBJECT: Security Cover](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_27102026123940_Security_Cover_Q2.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹294
- Risk regime: Higher Price Risk

### Support levels
- 286.2
- 291
- 286.25

### Resistance levels
- 299
- 314.95
- 345

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.30% |
| return_10 | +0.92% |
| return_1m | -1.12% |
| return_1y | -18.21% |
| return_20 | +0.56% |
| return_3m | -17.94% |
| return_5 | +3.87% |
| return_6m | -17.39% |
| return_since_start | -41.32% |
| return_ytd | -19.32% |

### 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 | -47.12% |
| annualized_volatility | +32.20% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# REC Limited FY2026-27 Q2: Profit falls as costs rise

REC Limited’s consolidated revenue from operations increased 3.9% quarter-on-quarter to ₹15,000 crore in FY2026-27 Q2, while profit for the period declined 17.1% to ₹3,478 crore. Higher expenses and a swing from an impairment reversal in Q1 to an impairment charge in Q2 weighed on the sequential result; year-on-year, revenue was down 1.0% and profit was down 21.2%.

## Interest income supports quarterly revenue

Interest earned rose 3.3% quarter-on-quarter to ₹14,669 crore from ₹14,200 crore in FY2026-27 Q1, and was up 0.5% from ₹14,590 crore in FY2025-26 Q2. Total income increased 3.7% sequentially to ₹15,010 crore from ₹14,469 crore. Other income declined to ₹10 crore from ₹35 crore in Q1; dividend income was ₹28 lakh.

The loan book stood at ₹6,12,678 crore on 30 September 2026, compared with ₹5,79,243 crore on 31 March 2026 and ₹5,74,780 crore on 30 September 2025. The larger closing loan balance coincided with year-on-year growth in interest earned, although that income rose only 0.5%.

## Higher expenses and impairment weigh on profit

Total expenses rose 15.4% quarter-on-quarter to ₹10,619 crore from ₹9,201 crore. Finance costs increased 8.9% to ₹9,522 crore. Employee benefit expense was ₹76.5 crore in Q2.

Impairment on financial instruments was a charge of ₹352 crore, compared with a net reversal of ₹967 crore in Q1—a swing of about ₹1,319 crore. Profit before tax fell 16.6% sequentially to ₹4,391 crore from ₹5,268 crore, and was 20.9% lower than in FY2025-26 Q2.

## Lower tax expense partly offsets the decline

Tax expense declined 15.1% quarter-on-quarter to ₹913 crore from ₹1,076 crore. Deferred tax was a credit of ₹113 crore, compared with a credit of ₹10 crore in Q1. Profit for the period fell 17.1% to ₹3,478 crore from ₹4,193 crore, and was 21.2% below the year-ago quarter.

Basic and diluted earnings per share from continuing operations were ₹13.21, down from ₹15.92 in Q1 and ₹16.77 in FY2025-26 Q2.

## Comprehensive income falls from Q1

Comprehensive income was ₹4,037 crore, down 45.7% from ₹7,440 crore in Q1. Other comprehensive income declined to ₹559 crore from ₹3,247 crore in the prior quarter.

## Loan growth accompanies a larger funding base

Equity attributable to owners of the parent stood at ₹95,219 crore on 30 September 2026, compared with ₹85,054 crore on 31 March 2026 and ₹83,481 crore on 30 September 2025. Debt securities increased to ₹3,25,562 crore from ₹3,09,983 crore at the end of March, while borrowings rose to ₹2,01,541 crore from ₹1,95,316 crore.

Bank balances other than cash and cash equivalents were ₹1,894 crore, up from ₹1,318 crore at 31 March 2026; cash and cash equivalents were ₹459 crore. Net deferred tax assets stood at ₹2,383 crore, down from ₹3,540 crore at the end of March.

## Key Takeaway

REC’s loan book and sequential revenue grew, but higher expenses and the reversal of the prior quarter’s impairment benefit coincided with a substantial decline in profit. Revenue and profit were also lower year-on-year, while interest income edged up—leaving earnings performance weaker than the modest top-line improvement.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +52.63%
- FII holding: +15.76%
- DII holding: +16.98%
- Mutual fund holding: +8.51%
- Retail holding: +9.80%
- Promoter pledged: +0.00%

### Major reported shareholders

- POWER FINANCE CORPORATION LTD — +52.63% (Bodies Corporate)
- LIFE INSURANCE CORPORATION OF INDIA — +3.33%
- NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA GROWTH MID CAP FUND — +1.86%
- NPS TRUST- A/C LIC PENSION FUND SCHEME - STATE GOVT — +1.55%
- TATA AIG GENERAL INSURANCE COMPANY LIMITED — +1.19%
- ICICI PRUDENTIAL EQUITY ARBITRAGE FUND — +1.16%

## Official filings

- 2026-11-07 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_07112026210908_TPC_140_sign_ocr.pdf)
- 2026-11-04 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_04112026171131_Signed_Transcript_Intimation_04112026.pdf)
- 2026-11-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- 2026-11-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- 2026-11-02 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_02112026113736_TPC_Signed_31-10-2026.pdf)
- 2026-10-31 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_31102026095705_Signed_Intimation_regarding_change_inSM_311026.pdf)
- 2026-10-31 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2733_WebXMLFile_20261031_172855816.xml)
- 2026-10-30 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_30102026133207_Signed_Intimation_of_incorporation31102026.pdf)
- 2026-10-29 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_29102026183819_Signed_Intimation_29102026.pdf)
- 2026-10-28 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_28102026120134_Q2_FY_26-27.pdf)
- 2026-10-27 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_27102026123940_Security_Cover_Q2.pdf)
- 2026-10-27 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_27102026163446_Signed_Newspaper_Clippings_Financial_Results_and_Record_Date.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_26102026163520_Signed_Outcome_of_Board_Meeting_261026.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_26102026164052_Signed_Outcome_of_Board_Meeting_261026.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_26102026170205_Results_Q2.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_26102026170837_Fund_Utilization_Certificate.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/RECLTD1_26102026171058_Fund_Utilization_Certificate.pdf)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/OUTCOME_2733_WebXMLFile_20261026_190425754.xml)
- 2026-10-26 — Financial Results Filing: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1746175_26102026070652_WEB.xml)
- 2026-10-26 — Financial Results Filing: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1746176_26102026070657_WEB.xml)
- 2026-10-26 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_26102026224009_Signed_Intimation_Investor_Call_261026.pdf)
- 2026-10-23 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20261023_220900077.xml)
- 2026-10-23 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/RECLTD_23102026220604_Signed_Incorporation__of_SPV_23102026.pdf)
- 2026-10-23 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20261023_220830920.xml)
- 2026-10-23 — Generic Announcement: REC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_2733_WebXMLFile_20261023_220838419.xml)

## News and market events

- 2026-11-05 — Mint: **Dividend stocks: Coal India, TCS, HUDCO, HCL Tech, GAIL among top 10 dividend paying stocks - Check yield, annual return | Stock Market News** — Livemint highlights Coal India, TCS, HUDCO, HCL Tech, and GAIL among the top ten dividend-paying stocks based on their annual yields. The report details specific payout figures and yield percentages for these entities, including Coal India's 6.72% yield and ONGC's 5.76%, to illustrate immediate cash returns relative to share prices. — [Source](https://www.livemint.com/market/stock-market-news/dividend-stocks-coal-india-tcs-hudco-hcl-tech-gail-among-top-10-dividend-paying-stocks-check-yield-annual-return-11793892901046.html)
- 2026-11-02 — The Hindu: **Bond rally spurs rush to tap debt market as borrowing costs ease** — A sharp rally in government bonds, driven by falling crude oil prices and improving global risk sentiment, has lowered benchmark yields and prompted corporates and government-backed institutions to accelerate debt issuances to lock in reduced borrowing costs. Issuers such as Nabard and SIDBI are capitalizing on this favorable backdrop, with market participants expecting strong investor demand and a steady pipeline of bond offerings as alternative funding avenues remain expensive. — [Source](https://www.thehindubusinessline.com/money-and-banking/bond-rally-spurs-rush-to-tap-debt-market-as-borrowing-costs-ease/article71656844.ece)
- 2026-10-29 — The Hindu: **Post rate hike, highly rated large companies step up rupee bond issuances** — Following the RBI's October 7th repo rate hike to 5.50 per cent and a shift to a 'calibrated tightening' stance, highly rated large companies including SIDBI, NABARD, L&T Finance, Sundaram Finance, REC Ltd, Aditya Birla Housing Finance, and Bajaj Finance have stepped up domestic rupee bond issuances. These entities raised significant capital via non-convertible debentures with coupons ranging from 8.05 per cent to 8.70 per cent, while NABARD is also reportedly planning an additional ₹6,000 crore mobilization. — [Source](https://www.thehindubusinessline.com/money-and-banking/post-rate-hike-highly-rated-large-companies-step-up-rupee-bond-issuances/article71641148.ece)
- 2026-10-27 — Mint: **Top stocks to watch today:  L&T, Maruti Suzuki, Paytm, REC shares in focus on Tuesday, 27 Oct | Full list** — Top stocks to watch today: Larsen & Toubro, Maruti Suzuki, Paytm, DCM Shriram, Tata Consumer among shares in focus on Tuesday. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-watch-today-l-t-maruti-suzuki-paytm-rec-shares-in-focus-on-tuesday-27-oct-full-list-11793064919143.html)
- 2026-10-26 — CNBC-TV18: **Top Stories | Bulls return to Dalal Street, Anthropic IPO spotlight, Israel's big vote** — Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pm. — [Source](https://www.cnbctv18.com/business/top-stories-bulls-return-to-dalal-street-anthropic-ipo-spotlight-israels-big-vote-20019703.htm)
- 2026-10-26 — CNBC-TV18: **Stocks to Watch for October 27: Tata Consumer, REC, DCM Shriram, Dalmia Bharat, defence stocks and more** — Stocks to Watch: Tata Consumer Products, REC, Dalmia Bharat, DCM Shriram, Sona BLW, Aavas Financiers, Aequs, Five-Star Business Finance and Genus Power are among the stocks in focus ahead of Tuesday’s trading session after Q2 results and key corporate announcements. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-october-27-tata-consumer-rec-dcm-shriram-dalmia-bharat-defence-share-price-20019656.htm)
- 2026-10-26 — FREEPRESSJOURNAL.IN: **REC Q2 Net Profit Falls 21 Per Cent To ₹3,477.73 Crore; Board Approves ₹3.50 Interim Dividend** — REC Ltd reported a 21% year-on-year fall in September-quarter net profit to Rs 3,477.73 crore, while revenue from operations slipped to Rs 15,000.40 crore. Its board approved a second interim dividend of Rs 3.50 per share. The loan book grew 5% sequentially to Rs 6.17 lakh crore. — [Source](https://www.freepressjournal.in/business/rec-q2-net-profit-falls-21-per-cent-to-347773-crore-board-approves-350-interim-dividend)
- 2026-10-26 — CNBC-TV18: **REC Q2 results: Net profit falls 21% to ₹3,478 crore, declares interim dividend** — REC reported a 21.2% year-on-year decline in Q2 FY27 net profit to ₹3,478 crore, while net interest income fell 9% to ₹5,478 crore. The company also announced interim dividend. — [Source](https://www.cnbctv18.com/market/rec-share-price-q2-results-net-profit-revenue-declares-interim-dividend-20019558.htm)
- 2026-10-26 — MONEYCONTROL: **Finance ministry reviewing PFC-REC merger, cabinet approval soon** — Finance ministry reviewing PFC-REC merger, cabinet approval soon comments have been incorporated. — [Source](https://www.moneycontrol.com/news/business/finance-ministry-reviewing-pfc-rec-merger-cabinet-approval-soon-14060348.html)
- 2026-10-26 — Mint: **Q2 results 2026 today, schedule: Paytm, Tata Con, REC among 90 firms to announce quarterly earnings | Full list** — Q2 results 2026 today, schedule: Among the key companies set to report their quarterly earnings today are Paytm, Mankind Pharma, Tata Consumer Products, ITC Hotels and REC. — [Source](https://www.livemint.com/market/stock-market-news/q2-results-2026-today-schedule-paytm-tata-con-rec-among-90-firms-to-announce-quarterly-earnings-full-list-11792983346368.html)
- 2026-10-25 — Mint: **Dividend buzz: Dalmia Bharat, Mazagon Dock, Coal India, NTPC, others to consider payouts this week - Check full list** — Several companies, including REC, Coal India, NTPC and Godrej Consumer, are set to announce September-quarter results and dividends. Meanwhile, Indian equities ended lower on Friday, with the Nifty 50 down 0.39% and its technical outlook remaining weak. — [Source](https://www.livemint.com/market/stock-market-news/dividend-buzz-dalmia-bharat-mazagon-dock-coal-india-ntpc-2-others-to-consider-payouts-this-week-11792943992658.html)
- 2026-10-16 — The Hindu: **RBI gives NoC to PFC-REC merger** — REC gets RBI NoC for merging into PFC, creating a ₹11 lakh crore loan book financing entity. — [Source](https://www.thehindubusinessline.com/companies/rbi-gives-noc-to-pfc-rec-merger/article71591605.ece)
- 2026-10-16 — The Hindu: **Stock Market Highlights, Oct 16: Sensex gains 413 pts, Nifty ends at 23,146 led by IT stocks** — Sensex Today, Nifty 50 | Stock Market Highlights: Find here all the highlights related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16th October 2026. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-highlights-16-october-2026/article71587755.ece)
- 2026-10-15 — CNBC-TV18: **REC gets RBI nod for proposed merger with Power Finance Corporation** — The merger has cleared a key regulatory step, but shareholder, creditor and other statutory approvals are still required before it can proceed. — [Source](https://www.cnbctv18.com/business/rec-gets-rbi-nod-for-proposed-merger-with-power-finance-corporation-20013087.htm)
- 2026-10-08 — Mint: **Dividend powerhouse: Coal India, ITC, REC, NMDC, Aptech, Radiant Cash - Which stock is real dividend multiplier? Details** — Coal India, ITC, REC, NMDC, Aptech, Radiant Cash are among the top companies with constantly rising dividend yield over last three financial years. Among them, NMDC posted the strongest dividend yield growth, at 52% from FY24 to FY26. Check details — [Source](https://www.livemint.com/market/stock-market-news/dividend-powerhouse-coal-india-itc-rec-nmdc-aptech-radiant-cash-which-stock-is-real-dividend-multiplier-details-11791451035317.html)
- 2026-10-07 — Mint: **Top dividend stocks: PTC India, Coal India, REC among 10 dividend stocks with yields of up to 16.7%** — PTC India leads with a dividend yield of 16.7%, highest among 10 stocks. The company declared two interim dividends in 2026 and proposed a final dividend. Other top dividend-yielding companies include Coal India at 6.3% and REC at 6.1% as per October 2026 analysis. — [Source](https://www.livemint.com/market/stock-market-news/top-dividend-stocks-ptc-india-coal-india-rec-among-10-dividend-stocks-with-yields-of-up-to-167-11791361850077.html)
- 2026-09-30 — MONEYCONTROL: **REC shares snap 2-day fall to rise over 2%; here's how you should trade** — REC shares today, REC share price today news, REC shares nse, REC shares nse today price — [Source](https://www.moneycontrol.com/news/business/markets/rec-shares-snap-2-day-fall-to-rise-over-2-here-s-how-you-should-trade-14042013.html)
- 2026-09-29 — Mint: **Dividend growth stars beyond yield! Honda India, Majestic Auto, REC among 7 stocks raising payout - Who stands out?** — Majestic Auto's dividends have risen significantly over three years, reaching ₹60 per share in FY26. Here's the list of top seven stocks with increasing dividend payout. — [Source](https://www.livemint.com/market/stock-market-news/dividend-growth-stars-beyond-yield-honda-india-majestic-auto-rec-among-7-stocks-raising-payout-who-stands-out-11790677197389.html)
- 2026-09-29 — CNBC-TV18: **REC shares fall another 4% to 52-week low, set for second straight monthly fall** — This will be the second straight monthly loss for REC, which has declined in five out of the nine months of 2026 so far. — [Source](https://www.cnbctv18.com/market/rec-share-price-psu-stock-at-52-week-low-2026-returns-monthly-fall-buy-sell-target-returns-20000786.htm)
- 2026-09-29 — BUSINESSTODAY: **Dividend stocks: These 10 counters offer up to 9.7% yield; PTC India, Coal India, REC among top names** — Dividend stocks, high dividend yield stocks, dividend paying stocks, PTC India, Coal India, REC, ONGC, Gujarat Pipavav Port, Power Finance Corporation, PFC, TCS, HCL Technologies, GAIL India, Petronet LNG, PSU dividend stocks, dividend income, stock market, Indian stocks, dividend yield, FY26 dividend, Religare Broking — [Source](https://www.businesstoday.in/markets/stocks/story/dividend-stocks-these-10-counters-offer-up-to-9-7-yield-ptc-india-coal-india-rec-among-top-names-558461-2026-09-29)
- 2026-09-29 — BUSINESSTODAY: **YES Bank, REC, Go Digit Insurance: Top stocks to trade — Key levels, target prices & stop loss** — Stocks to buy, Stock picks, Stocks to trade, trading views, REC, YES Bank, Go Digit General Insurance, REC shares, YES Bank shares, Go Digit Insurance shares, REC share price, YES Bank share price, Go Digit Insurance share price, REC stock price, YES Bank stock price, Go Digit Insurance stock price, REC target price, YES Bank target price, Go Digit Insurance target price — [Source](https://www.businesstoday.in/markets/trending-stocks/story/yes-bank-rec-go-digit-insurance-top-stocks-to-trade-key-levels-target-prices-stop-loss-558405-2026-09-29)
- 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)

## 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: 2026-11-06
- Source: Faxioms public stock analysis API

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