Mumbai: IFCI and Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) share price in focus on August 29, 2024. PFC and REC stock went up today as UBS gave a Buy rating on the stocks. Meanwhile, IFCI, the Railway PSU stock, was also marginally up as compared to its opening price.
IFCI share price
A day after IFCI share price closed at Rs 76.75, the stock was trading at Rs 77.47 at 11:05 am on August 29. The Railway stock rallied over 8 per cent on August 28. IFCI, controlled by the Ministry of Railways, is a Systematically Important Non Deposit Taking Non Banking Finance Company (NBFC-ND-SI) that came into existence in 1948. It is listed on BSE and NSE.
REC share price target
Foreign brokerage UBS has maintained a Buy rating on REC, saying the ‘power sector financier remains in the earnings upgrade cycle’. While giving the Buy call, the brokerage set the target price of Rs 720 apiece.
REC Limited is categorised as Maharatna PSU under Ministry of Power and a leading NBFC. the shares are in focus after the PSU signed an MoU with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs 45,000 Cr for various upcoming projects of JNPA, which includes development of Vadhavan Port.
REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. REC has been assigned the responsibility of PM Surya Ghar Muft Bijli Yojna. The loan book of REC stands at Rs 5.30 lakh crore and net worth at Rs 72,351 crore as on 30th June, 2024.
PFC share price target
UBS gave a Buy rating on PFC, saying that the PSU stock has the potential to rise to the level of Rs 670 apiece. PFC shares were trading in Green at Rs 547.70 at 11:16 am on August 29, 2024.
Power Finance Corporation was incorporated in 1986 and is categorized as Schedule-A Maharatna CPSE, and is a leading Non-Banking Financial Corporation in the country.
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Stocks in Focus today: IFCI shares are trading in Green on August 29, 2024. Global brokerag efirm UBS has given a Buy call on PFC and REC. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
