REC doubles its market cap in one years

REC Limited, the Maharatna CPSE under the Ministry of Energy, secured the coveted spot in the prized Morgan Stanley Capital International (MSCI) Global Standard Index, effective September 1, 2023.

A recent report by Nuvama Alternative & Quantitative Research highlighted that REC shares were considered strong contenders for the November 2023 review. The analysis conducted by Nuvama Alternative & Quantitative Research expects REC inflows to be approximately $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. REC's entry into the MSCI index is commendable and restores its status as one of the most important financial organizations around the world. It can be noted that the value of REC shares has more than doubled in the past year from Rs 100.20 on August 10, 2022 to Rs 216.65 on August 10, 2023.

The MSCI Global Standard Index is a set of international stock indices compiled by MSCI Inc. These indices are widely used by investors, fund managers and financial professionals to measure the performance of global equity markets.