REC Limited's 271% Leap to All-Time High in Just 11+ Months

06 Dec, 2023

Off-White Arrow

REC Limited is a Maharatna Company, a Central Public Sector Enterprise under the Ministry of Power, Government of India.

On 13 Oct 2018, the company's name was changed from Rural Electrification Corporation Limited to REC Limited.

It has a market capitalization of ₹ 1,00,000+ crores.

Since 2017, its dividend yield has been more than the interest paid by many banks on fixed deposits.

It moved from its 52 week low of ₹108 to ₹408, which is the all-time high, giving a whopping 271.99% return in just 11 months and 10 days.

As of Wed, 06 Dec 2023, RECLTD is just ₹6.25 less than the 52-Week High of ₹408. Lets find out what opportunities lies ahead for RECLTD

The Golden Extension (161.8%) level of ₹593 offers a promising Exit Point, given the likelihood of a downward momentum from these levels as investors might start booking their profits at these levels.

The Golden Ratio (61.8%) retracement level of ₹222 offers a promising Entry Point, given the likelihood of a pullback from these levels as new investors might come in at these levels.