Power Sector Maharatna Stock Sets Record Date For Dividend, Should You Buy?

REC Ltd, a leading Maharatna Central Public Sector Undertaking under the Ministry of Power, has fixed February 9, 2023 as the record date for interim dividend. The large cap stock gave a return of 16% in last 3-month and 14% in last 1-year. Brokerage firm ICICI Direct has assigned buy call to REC Ltd with a target price of Rs 122 apiece. Check details below:

1. REC Ltd fixes record date for interim dividend

According to the BSE filing of the company, "Declaration of 2nd interim dividend @ Rs 3.25 (Rupees Three and Twenty Five Paise only) per equity share of Rs 10/- each for the financial year 2022-23 as approved by the Board of Directors of REC Limited. The record date for the said interim dividend is Thursday, February 9, 2023 and the said interim dividend shall be paid/dispatched on Tuesday, February 28, 2023."

2. REC Ltd Stock Performance & Return

The last trading price of REC Ltd is Rs 116.10 apiece with intraday gain of 0.74%. The stock's 52-week high is Rs 126.30 apiece and 52-week low is Rs 82.28 apiece, respectively. The company has a market capitalisation of Rs 30,571.73 crore.

The stock gave a return of 18% in last 6-months, 14% in last 1-year, and 4% in last 3-year. It fell a little over 1% in last 5-year.

3. ICICI Direct on REC Ltd

The brokerage firm in its November 28, 2022 report assigned buy call to REC Ltd with a target price of Rs 122 apiece. The analyst had given a time period of 3 months for the stock to achieve the target price. The last trading price of REC Ltd is Rs 116.10. If you buy REC Ltd now, it will offer you a likely return of 5%.

4. About REC Ltd

REC is a renowned infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution.

It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of 22 offices across the country, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.