India's REC rises on signing $13.37 bln renewable energy pacts

REC

18/09/2024 06:43

** Shares of REC Ltd  RECM.NS  rise as much as 3.4% to 563.3
rupees
    ** The infrastructure lender signed pacts worth about 1.12
trln rupees ($13.37 bln) with renewable energy developers
    ** Co targets expansion of renewables loan book to over 3
trillion rupees by 2030
    ** Stock set to snap three sessions of losses
    ** Avg rating of the 7 analysts is "buy" and median PT is
687.5 rupees, ~25% higher than current price - LSEG data
    ** Stock up 1.2%, extending YTD gains to 33.6%

($1 = 83.7670 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))