REC mainly focuses on financing Rural Electrification Projects and assists State Electricity Boards for the same. Mission from the official website and I quote
- To facilitate availability of electricity for accelerated growth and for enrichment of quality of life of rural and semi-urban population.
- To act as a competitive, client-friendly and development-oriented organisation for financing and promoting projects covering power generation, power conservation, power transmission and power distribution network in the country.
- It’s 80+ per cent government-owned.
- 90 per cent of its lending goes to PSUs or government departments.
- Implements Rajiv Gandhi Gramin Vidyut Yojna (RGGVY)
- A hybrid stock which has presence in 3 sectors Power, Capital Goods and Finance.
- It is one of the few stocks which is at 52 weeks high.
- Indiaearnings boardroom at current value of 190 Rs we have EPS of 17.32 and P/E 11.25.
Definitely a must stock in your long term portfolio..
“Happy Independence and Enjoy and the independence day“.