Multibagger power financing stocks PFC and REC continue downward trend, with PFC down 4% and REC down 2% for second day. RBI s proposal for stricter regulations on project finance leads to sell-off. Analysts remain confident, suggesting no signs of caution for short-term investors.
Shares of PSU stocks dropped by up to 13% as RBI imposed stricter regulations on project loans during the construction phase, with provisions set at 5%. Power financing companies like PFC and REC witnessed sharp declines.