PFC, REC gain up to 3% as UBS initiates 'buy' rating on high growth outlook

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PFC, REC gain up to 3% as UBS initiates 'buy' rating on high growth outlook - Business Standard

Quick Summary:

UBS believe REC and PFC's growth drivers and trajectory will be similar, with REC growing slightly ahead of PFC.

UBS believes that there is a clear growth path for the company in the medium term, which would gradually drive a re-rating of the sector.

At 11:01 AM; these stocks were trading higher by 1 per cent, as compared to the 0.23 per cent rise in the BSE Sensex.REC (Rs 653.90) and PFC (Rs 580.35) had hit a 52-week high on July 12, 2024.