PFC, REC rallies 6 pc as FM Sitharaman unveils restructuring plan in Budget

Shares of PFC and REC surged up to 6 per cent on Sunday after Finance Minister Nirmala Sitharaman announced the restructuring of the two state-run entities as part of the government's public sector financial institution strengthening. The scrip of Power Finance Corporation (PFC) climbed 5.90 per cent to Rs 401.75 apiece, while REC advanced 4.3 per cent to Rs 380 on the BSE. Meanwhile, markets is trading in the negative territory, with the 30-share BSE Sensex plunged 450.04 points, or 0.55 per cent, to 81,819.74 in the late morning trade. In her Union Budget 2026-27 speech, Sitharaman proposed restructuring of REC Ltd (formerly Rural Electrification Corporation) and Power Finance Corporation (PFC) as part of the government's public sector financial institution strengthening. PFC and REC plays a key role in funding power generation, transmission and distribution projects.