Budget 2026: PFC, REC shares surge after restructuring proposal by FM Sitharaman

Shares of Power Finance Corporation Ltd. (PFC) and REC Ltd. gained up to 4% on Sunday, February 1, after Finance Minister Nirmala Sitharaman announced a structuring of both companies.

The Finance Minister made this announcement on the floor of the Lok Sabha during her Budget 2026 speech, her ninth consecutive Budget.

Details of the proposed restructuring are awaited.

Currently, Power Finance Corporation acts as the promoter of REC Ltd. with a 52.63% stake. Both these stocks were underperformers in 2025, declining between 20% to 30%, having more than tripled in value back in 2023.

Shares of PFC are trading 3.7% higher at ₹395.7, while those of REC are trading 3% higher at ₹375.

To be updated with more.