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PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.
PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.
Benchmarks hold their ground despite late profit booking
The benchmark indices ended marginally higher on Thursday, extending gains for a second straight session. The Nifty climbed to a more than one-month high of 24,261.60 around noon, supported by easing crude oil prices and buying in auto and FMCG stocks. However, profit booking in the second half erased most of the intraday gains, while weakness in metal, IT, oil & gas and energy stocks capped the upside. The Nifty still managed to close above the 24,000 mark. Broader markets underperformed, with the midcap and smallcap indices ending in the red.
Coal India Ltd eases for fifth straight session
Coal India Ltd is quoting at Rs 443.9, down 0.1% on the day as on 13:19 IST on the NSE. The stock jumped 13.31% in last one year as compared to a 4.75% slide in NIFTY and a 11.87% spurt in the Nifty Energy index.
Hindustan Petroleum Corporation Ltd up for third straight session
Hindustan Petroleum Corporation Ltd is quoting at Rs 400.85, up 1.03% on the day as on 12:49 IST on the NSE. The stock is down 1.79% in last one year as compared to a 4.99% slide in NIFTY and a 11.47% slide in the Nifty Energy index.
Rs 1.5 lakh crore behind 2025! Can Jio, NSE and other mega IPOs put 2026 on course for another record year?
India's primary market faces a significant fundraising gap to match last year's record. However, upcoming mega IPOs from Reliance Jio (Rs 35,000 crore) and NSE (Rs 25,000 crore), alongside SBI Mutual Fund (Rs 10,000 crore), could inject much-needed demand. Experts believe these established names can revive investor sentiment, but a broad-based revival hinges on sensible valuations and a steady pipeline of quality companies.
Trust MF CIO sees revival in corporate cycle, stays bullish on mid and smallcaps
Mihir Vora, Chief Investment Officer at Trust Mutual Fund, remains bullish on renewable energy, with a preference for solar, and is betting on transmission and distribution companies as well as commercial clean energy suppliers catering to sectors such as data centres.
Reliance Industries shares could re-rate in this scenario, predicts Jefferies; Check latest price targets
Reliance Industries remains a near-consensus "buy" across analysts who track it. Among the 34 analysts who cover the stock, 33 have a "buy" rating, while only one has a "sell" recommendation.
Succession at Reliance nearly complete, Mukesh Ambani, 69, says at shareholders meeting
While Akash, Isha and Anant lead individual business verticals, they are simultaneously working towards the holistic growth of everything under the Reliance ecosystem, Mukesh Ambani said at the RIL AGM. 'They are three bodies, one soul. Their soul is Reliance. One single indivisible Reliance.'
Nifty Outlook for June 19: Reliance, IT stocks hold key for Friday's trade
Heading into Friday's session, IT stocks will remain in focus after Accenture shares plunged 19% in their biggest one-day decline on record. The selloff came after Accenture trimmed the upper end of its annual revenue growth forecast on June 18. Following the development, Infosys ADRs fell nearly 8%, while Wipro ADRs declined about 4%.
Siemens Ltd soars 0.06%, gains for fifth straight session
Siemens Ltd is quoting at Rs 3727.7, up 0.06% on the day as on 12:44 IST on the NSE. The stock is up 13.48% in last one year as compared to a 2.73% slide in NIFTY and a 14.16% slide in the Nifty Energy.
Mahanagar Gas Ltd up for fifth session
Mahanagar Gas Ltd is quoting at Rs 1210.3, up 0.12% on the day as on 12:44 IST on the NSE. The stock is down 13.08% in last one year as compared to a 2.73% spurt in NIFTY and a 14.16% spurt in the Nifty Energy.