+
REC doubles its market cap in one year
POWER & RENEWABLE ENERGY

REC doubles its market cap in one year

REC Limited, the Maharatna CPSE under the Ministry of Power, secured the coveted place in the esteemed Morgan Stanley Capital International (MSCI) Global Standard Index, effective from September 1, 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 organisations across the globe. It may be noted that the value of REC stock has more than doubled in the last year from Rs 100.20 on August 10, 2022 to Rs 216.65 on August 10, 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, the Maharatna CPSE under the Ministry of Power, secured the coveted place in the esteemed Morgan Stanley Capital International (MSCI) Global Standard Index, effective from September 1, 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 organisations across the globe. It may be noted that the value of REC stock has more than doubled in the last year from Rs 100.20 on August 10, 2022 to Rs 216.65 on August 10, 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.

Next Story
Equipment

Liebherr secures 130-dozer deal with Turkey’s State Hydraulic Works

Liebherr Turkey has signed a major equipment supply agreement with the Turkish State Hydraulic Works (DSİ) for the delivery of 130 crawler tractors to be used across the country’s key infrastructure and environmental projects.The agreement covers 120 PR 756 Litronic and 10 PR 736 Litronic crawler tractors, with production scheduled at Liebherr’s facility in Telfs, Austria. This marks a significant continuation of the long-standing collaboration between DSİ and Liebherr, which began over a decade ago with the delivery of PR 754 Litronic dozers.Designed for heavy-duty operations, the PR 75..

Next Story
Infrastructure Transport

Noida to Revamp Transport Nagar Chowk with Rs 4-Crore Beautification Plan

The Noida Authority has unveiled plans to redevelop Transport Nagar Chowk in Sector 67 with a Rs 4-crore beautification project. Aimed at enhancing connectivity, accessibility, and urban aesthetics, the project will upgrade a 500-metre stretch along DSC Road with modern, inclusive, and sustainable infrastructure.Officials stated that the stretch will be enhanced with ornamental lighting, sculptures, seating areas, bollards, food kiosks, and ramps for differently-abled individuals. A tender for the project is expected to be issued soon.Neelima Rana, partner at Orionn Architects—the firm behin..

Next Story
Infrastructure Transport

Centre Approves Noida Metro Extension to Bodaki Multimodal Hub

The Central government has approved the extension of the Noida Metro Aqua Line from Depot Station to the upcoming Multimodal Transport Hub (MMTH) at Bodaki, marking a major push for enhanced connectivity in the National Capital Region (NCR). The 2.6-km extension is expected to be completed within three years.The project, already cleared by the Uttar Pradesh Cabinet, will now move to the construction stage under the supervision of the Noida Metro Rail Corporation (NMRC). The extended route will include two additional stations — Junpat Village and Bodaki — connecting to the MMTH, which will ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?