Company Overview and News
Rural Electrification Corporation and Patratu Vidyut Utpadan Nigam Ltd have signed a loan agreement for establishing the 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand. An REC statement said that the project cost of ₹18,668 crore is funded in debt:equity ratio of 75:25 and ₹14,000 crore. This entire debt component of the project is sanctioned by REC as sole lender for the project.
Rural Electrification Corp (REC) will provide Rs 14,000 crore debt to set up 2,400 MW thermal power plant of power giant NTPC's arm Patratu Vidyut Utpadan Nigam Limited (PVUNL) in Jharkhand.
Rural Electrification Corporation and Patratu Vidyut Utpadan Nigam Ltd (PVUNL) have signed a loan agreement for establishing the 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand.
ICICI Prudential on Monday announced the much-awaited launch of Bharat-22 open ended exchange-traded fund, which is a part of the Centre’s disinvestment program worth ₹72,500 crore for FY18. (19-0)
Rural Electrification gained over 3 percent intraday on Tuesday as investors reacted to the company’s results.
Public sector infrastructure finance major Rural Electrification Corporation has reported a ₹1,214.66-crore net profit for the second quarter of the financial year 2017-2018. This is 30 per cent lower than the ₹1,751.27-crore bottomline reported by in the corresponding period of the last financial year. The company’s total revenue for the quarter too, came down from ₹6,108.55 crore in the same quarter of the last financial year to ₹5,627.
State-owned key lender to power sector Rural Electrification Corporation (REC) reported 30 per cent decline in standalone net profit to Rs 1,214.66 crore in the second quarter ended September 30, 2017 owing to lower revenues.The company's standalone net profit was Rs 1,751.27 crore in the quarter ended September 30, 2016.
It was a dull day for the market on Monday as equity benchmarks ended mixed after hitting fresh record highs intraday, and following tepid global cues. Investors continued to focus on corporate earnings and crude oil price movement. (28-0)
New Delhi: In a boost to India’s efforts to transition to a low-carbon economy, the Global Environment Facility (GEF) will provide $454 million in funding for energy-efficiency projects run by state-owned Energy Efficiency Services Ltd (EESL). (2-0)
Energy Efficiency Services Limited (EESL) on Friday said that it will procure 10,000 electric vehicles from Tata Motors after the latter emerged as the lowest bidder in a competitive bidding process. (3-0)
ICICI Prudential Asset Management Company has filed a draft document with SEBI for the Bharat-22 exchange-traded fund (ETF). (15-0)
The Government of India aims at ‘24/7 Power For All’ by 2019. Prime Minister Narendra Modi announces 'Power For All' scheme and the government plans to invest Rs 16,320 crore in this scheme named as Saubhagya scheme.
It’s not just the government that has raked in big money from selling stake in public sector undertakings via offers-for-sale. Most retail investors too have been rewarded. (7-0)
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Faced with a near-dry thermal power generation market which it funded so far, Power Finance Corporation (PFC) is exploring ways to fund purchase of 10,000 electric cars by Energy Efficiency Services Limited (EESL), according to an official familiar with the development.
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