REC Limited is a public infrastructure finance company in the power sector; it is a PSU that finances and promotes power projects across India.
Unlike in the past, the growth of Power Grid Corporation of India (PGCIL) is going to moderate in the coming years as a result of slowing capex. Against the Rs 20,700 crore capitalisation in fiscal 2022, the company guided to a capitalisation of about Rs 10,000 crore in fiscal 2023. The capex-led growth will only moderate in the years to come, considering the gradual decline in transmission and distribution investment, and partially because of increasing competition. (image) While the company is...