Power Finance Corp., REC Get ‘Buy’ As UBS Initiates Coverage Amid India’s Infra, Renewable Focus
UBS initiated coverage on power financiers like REC Ltd. and Power Finance Corp. with a ‘buy’ rating, given India’s high growth in renewable power generation and infrastructure capital expenditure. The brokerage views Power Finance Corp. and REC as financiers of high-growth renewable power generation and infrastructure capex in India and not as traditional power capex