Double Jolt: PFC, REC Shares Plunge Up To 8% After CLSA Cuts Target Price On Mixed Q1 Results

•Shares of Power Finance Corporation Ltd. and REC Ltd. plunged up to 8% after CLSA cut price targets on mixed Q1 results.

•Loan growth moderated for both companies due to a decline in the Revamped Distribution Sector Scheme (RDSS) book.

•CLSA cut FY27 profit estimates for both PFC and REC by 2-3% and reduced target prices to Rs 420 and Rs 500 respectively.

•PFC's shares traded 8.25% lower at Rs 385.30, while REC's stock fell 6.09% to Rs 344.65 on the NSE.