PFC, REC drop up to 3% as Morgan Stanley downgrades amid loan growth woes

•Morgan Stanley downgraded PFC and REC due to lower loan growth expectations.

•PFC and REC shares declined up to 3% in intraday deals on August 20.

•Loan growth for PFC and REC was 4% and 1% in Q1 FY27, lower than 16% and 10% in Q1 FY26.