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.