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Aditya Birla Capital among 3 stocks flashing bullish signals, hinting at a possible uptrend
Three NSE midcap stocks, Escorts Kubota, Aditya Birla Capital and REC, featured on StockEdge’s White Marubozu scanner on June 22, signalling strong buying momentum and bullish technical sentiment.
REC rises after SPA for Jalna Power Transmission transfer to MSETCL
REC rose 1.45% to Rs 353.25 after executing a share purchase agreement (SPA) through its subsidiary RECPDCL with the Maharashtra State Electricity Transmission Company (MSETCL) for the transfer of Jalna Power Transmission.
Stocks to Watch today: Lenskart, ZEEL, REC, PFC, Eternal, Airtel and more
Stocks to watch today: Lenskart, Zee Entertainment, REC, PFC, Eternal, Airtel, Tata Consumer Products, Vascon Engineers, Nuvama Wealth, Rajesh Exports, among others, will be in focus today.
Stocks in news: Lenskart, PFC, RIL, Hindustan Zinc, Tata Consumer
Indian markets saw volatile trading on Wednesday, closing slightly down. Lenskart, PFC, RIL, Hindustan Zinc, and Tata Consumer are in focus. ADIA plans to sell Lenskart shares. Tata Consumer targets over 20% EBITDA margin. Reliance Industries subsidiary will redevelop a Mumbai slum. REC Ltd will merge with Power Finance Corporation. ZEEL plans to raise funds.
Stocks To Watch Today: Zee Entertainment, SBI, Honasa Consumer, IIFL Finance, PFC, REC
Stocks In News On Thursday.
Power finance cos turn to global markets for cheaper funds
Indian power and renewable energy firms are looking abroad for loans. The Reserve Bank of India's new dollar-rupee swap facility has made foreign currency borrowing cheaper. Companies like REC and PFC are planning to raise significant funds through external commercial borrowings. This move is expected to lower borrowing costs for these public sector undertakings.
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.
FX swap window may spur PSU rush for overseas loans
Public sector units like PFC, REC, and NaBFID are poised to increase their External Commercial Borrowings (ECBs) to leverage the RBI's 1.5% fixed-rate swap. This initiative is expected to attract significant dollar inflows, offering Indian companies cheaper funding options below 7% compared to domestic rates.
REC Ltd up for third straight session
REC Ltd is quoting at Rs 342.9, up 2.3% on the day as on 12:49 IST on the NSE. The stock is down 17.37% in last one year as compared to a 6.52% drop in NIFTY and a 6.42% drop in the Nifty Financial Services index.
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.