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President approves merger of REC with Power Finance Corporation
The President has approved the merger of REC Ltd into Power Finance Corporation. This move follows PFC's acquisition of a majority stake in REC in 2019. The Ministry of Power conveyed the approval. The merger will see REC's assets and liabilities transferred to PFC. REC will be dissolved post-merger.
Merger of REC with Power Finance Corporation gets Presidential approval
REC Ltd will merge with Power Finance Corporation after the President's approval, nearly seven years post-PFC's acquisition of a majority stake. This merger aims to enhance efficiency in Public Sector NBFCs and will dissolve REC as per the Companies Act.
Rate sensitive shares trade mixed post RBI policy; NBFC's rally up to 4%
Bajaj Finance, Shriram Finance, Cholamandalam Investment, REC and Power Finance Corporation were up between 2.5 per cent 4 per cent in intra-day deals on Friday.
H.G. Infra wins Jharkhand transmission project under boot model
H.G. Infra Engineering has been declared the successful bidder by REC Power Development and Consultancy (RECPDCL), a wholly owned subsidiary of REC.
PFC board clears next step for REC merger, seeks govt approval
Power Finance Corporation has taken a key step toward merging with REC Limited after its board approved seeking the President of India’s nod for the transaction. PFC has authorised CMD Parminder Chopra to seek formal approval. The merger will be based on a share swap ratio determined by valuers, while ensuring the merged entity retains its government-company status.
Power Finance Corporation board moves REC merger proposal for Presidential approval
Shares of Power Finance Corporation ended at ₹444.00, down 1.63% or ₹7.35 on the BSE, while shares of REC Ltd ended at ₹345.70, down 0.72% or ₹2.50 on the BSE.
PFC-REC merger may not be a priority amid war squeeze
Boards of Power Finance Corporation and REC will meet Saturday. Uncertainty surrounds their proposed merger. The government's stake may fall below 51 percent. This could require a substantial capital infusion of around 25,000 crore rupees. Analysts question the feasibility of this. The merger is targeted for April 1, 2027. Discussions continue on the final structure.
PFC net up 3%, expects merger with REC by April 2027; flags concern over RBI norms
Power Finance Corporation and REC Ltd are planning to merge by April 1, 2027. This merger will create a single platform for financing India's power sector. Both companies have received in-principle approval for the restructuring. Legal and financial advisors have been appointed. Discussions on the detailed structure are ongoing and require regulatory approvals.
Gainers & Losers: GRSE, Vedanta among 8 big movers on Wednesday
Indian markets closed higher led by auto, FMCG, and IT stocks. Strong Q4 earnings drove gains in GRSE, CEAT, and Vedanta, while REC, Cohance Lifesciences, and India Cements declined.
Stocks to Watch for April 29: CEAT, REC, Bandhan Bank, Star Health, BHEL & more
Bandhan Bank, REC, CEAT, Star Health and others post mixed Q4 results, with strong profits for some and pressure on margins and growth for others. Here are few stocks to keep an eye on ahead of Wednesday's trading session.
Utilities rally looks stretched, says Bernstein; NTPC, REC still offer selective value
Bernstein’s Nikhil Nigania sees limited upside in utilities, prefers NTPC on dips, REC for value, and favours integrated players like Tata Power in renewables.
RBI move may push govt NBFCs into Upper-Layer NBFC category
The Reserve Bank of India is proposing new rules for classifying large financial companies. State-owned firms like Power Finance Corp and REC may now be considered Upper-Layer NBFCs. This change aims for clearer regulations based on asset size. The RBI's proposal could bring more entities under stricter oversight.