Indian power financiers gain; Morgan Stanley starts with 'overweight'

REC

10/07/2025 05:03

** Power Finance Corp PWFC.NS and REC RECM.NS gain 2.7% and 2.3%, respectively

** Morgan Stanley starts both power financiers with "overweight"

** Says India's energy sector under transformation with large, planned capex, distribution and EV charging infra; adds both firms "enablers" of this transition

** Notes asset quality will remain stable, with cos expected to see potential upside from bad loans recovery

** Both stocks rated "strong buy" on avg, per data compiled by LSEG

** YTD, PWFC loses 4.5%, REC falls 20%

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))