REC, PFC Share Price Rally Up To 5% To Hit 52-Week Highs, PFC At ₹465 In 22% April Surge

Mumbai: Shares of REC Limited and Power Finance Corporation continued their strong rally on Thursday, April 16. Both stocks jumped up to 5 percent during the day and touched their 52-week high levels.

In April so far, both stocks have performed strongly. Out of 10 trading sessions this month, they have gained in nine sessions. This shows strong buying interest from investors.

Best Month In Recent Times

For the month of April, shares of both companies have risen around 22 percent each. This is the best monthly performance for PFC since November 2024 and for REC since July 2024.

Interestingly, July 2024 was also the time when many PSU stocks had reached their peak before correcting. Now, these stocks are again seeing strong momentum.

Market Cap And Prices Rise

With this rally, the market value of REC is now close to Rs 1 lakh crore. At the same time, PFC’s market capitalisation has crossed Rs 1.5 lakh crore.

On Thursday, REC shares were trading around Rs 369.35, up 4.7 percent, and have now turned positive for the year. PFC shares were trading near Rs 465, up 4.5 percent, and have gained about 30 percent so far this year.

Merger Buzz Supporting Sentiment

Both companies have been in focus since the Union Budget announcement. The government had proposed merging REC and PFC to create a large financing company.

However, no detailed plan or timeline has been shared yet. Even then, the idea of a merger is keeping investor interest high.

Strong Analyst Support

Analysts remain positive on both stocks. Out of 14 analysts tracking REC, 13 have given a “buy” rating. For PFC, all 15 analysts covering the stock have a “buy” recommendation.

This strong support is also helping the stocks move higher.

Still Below Record Highs

Despite the recent rally, both stocks are still below their all-time highs. PFC is about 20 percent below its record high of Rs 580, while REC is still down nearly 43 percent from its peak of Rs 654 in July 2024.

This shows there is still some gap before they reach their previous highs again.

Disclaimer : This article is for informational purposes only and not investment advice. Stock market investments are subject to risks. Readers should consult financial advisors before making any investment decisions.