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Tata Motors bags contract to provide 10,000 electric cars to EESL

2017-09-29 moneycontrol
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)

Draft papers filed for Bharat-22 ETF

2017-09-27 thehindubusinessline
ICICI Prudential Asset Management Company has filed a draft document with SEBI for the Bharat-22 exchange-traded fund (ETF). (15-0)

Grateful to government for trusting REC as nodal agency for Saubhagya scheme: REC

2017-09-26 moneycontrol
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.

Most PSU firms’ offer-for-sale issues have rewarded investors

2017-09-22 thehindubusinessline
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)

Outcome of board meeting of Rural Electrification Corporation

2017-09-21 indiainfoline
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in “National Do Not Call Registry” as laid down by “Telecom Regulatory Authority of India” will not be applicable for such information/ communication.

Power Finance Corporation looks to fund Energy Efficiency’s purchase of 10,000 electric cars

2017-09-21 moneycontrol
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.

KVIC looks to restore 71-year-old Sewapuri Ashram to its former glory

2017-09-20 moneycontrol
Neglected for close to three decades, the 71-year-old ashram once inaugurated by Dr Rajendra Prasad is finally getting a facelift. The 12-acre Sewapuri Ashram in Varanasi started under the guidance of Mahatma Gandhi to promote Khadi and provide employment to weavers is working on the same mission, 26 years after it shut shop.

Nissan to Hyundai Keen on India's $203 Million Order for EVs - Bloomberg

2017-09-19 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. (16-0)

India Energy Storage Alliance (IESA) commemorates World Energy Storage Day by organizing policy roundtable

2017-09-18 marketwired
To commemorate on the 1st World Energy Storage Day, India Energy Storage Alliance (IESA), India's leading alliance on energy storage will organize India Energy Storage Policy Forum on 23rd September 2017 at Delhi. The objective of this forum is to have a dialogue between thought leaders from industry and the policy makers to identify policy priorities that can help drive adoption of energy storage in India and make India a global hub for manufacturing of advanced energy storage technologies by 2020.

Corporate Action ⠠RURAL ELECTRIFICATION CORPORATION, BALKRISHNA INDUSTRIES, GODREY PHILIPS, PETRONET LNG, INFIBEAM INCORPORATION, SUZLON ENERGY, ENGINEERS INDIA, JAIN IRRIGATION SYSTEM, UNITED BRE

2017-08-17 indiainfoline
Corporate Action – RURAL ELECTRIFICATION CORPORATION, BALKRISHNA INDUSTRIES, GODREY PHILIPS, PETRONET LNG, INFIBEAM INCORPORATION, SUZLON ENERGY, ENGINEERS INDIA, JAIN IRRIGATION SYSTEM, UNITED BRE

Rural Electrification Corporation

2017-08-12 indiainfoline
Outstanding loan portfolio increased 10% to Rs 207802 crore at end June 2017. Disbursements improved 9% yoy to Rs 12784 crore in Q1FY2018, as disbursements in the T&D (including RGGVY) jumped 30% to Rs 7148 crore, while generation segment disbursements also increased 20% at Rs 4706 crore. However, short-term loans disbursements fell 65% to Rs 750 crore in Q1FY2018.

REC posts 8% lower profit

2017-08-11 thehindubusinessline
Rural Electrification Corporation saw 8 per cent drop in its net profit at ₹1,301.14 crore for the first quarter of the financial year 2017-2018. The company had reported a net profit of ₹1,420.86 crore during the corresponding quarter of the last financial year. Total revenue from operations came down to ₹5,571.56 crore (₹5,953.65 crore). An official statement said that NPAs have grown to 2.60 per cent during the quarter under consideration against 2.

CAG says REC, PFC miscalculated tariffs

2017-08-10 thehindubusinessline
The Non-Performing Asset generation of Rural Electrification Corporation and Power Finance Corporation worked out to “a significant 21.72 per cent of the amount disbursed during 2013-2014 to 2015-2016” according to the Comptroller and Auditor General of India.

CAG: REC, PFC miscalculated tariffs

2017-08-10 thehindubusinessline
The Non-Performing Asset generation of Rural Electrification Corporation and Power Finance Corporation worked out to “a significant 21.72 per cent of the amount disbursed during 2013-2014 to 2015-2016” according to the Comptroller and Auditor General of India.

Video: REC PFC did not follow RBI norms on loans to private power companies

2017-08-10 moneycontrol
According to Comptroller and auditor general (CAG) of India, Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) did not follow Reserve Bank of India (RBI) norms on loans to private power companies.

NLC to acquire DVC’s Ragunathpur Thermal Power plant

2017-07-27 thehindubusinessline
The Neyveli Lignite Corporation of India Limited (NLCIL) has identified two more stressed power assets for acquisition, besides the 2x660 MW Ragunathpur Thermal Power Station of the Damodar Valley Corporation (DVC) that it has shortlisted to take over.

REC slips after bulk deal

2017-07-26 indiainfoline
Rural Electrification Corporation fell 1.12% to Rs 175.85 at 15:10 IST on BSE after a bulk deal of 70.94 lakh shares was executed on the scrip at Rs 179 per share at 11:26 IST on BSE.

India's Blue Sky Pledge Gives Power to Country's Green Bonds

2017-07-24 renewableenergyworld
Green bonds issued by Indian companies are gathering pace as the country’s ambitious target for renewable energy fuels interest from investors.

Govt to electrify 10,486 mobile towers to cut down diesel consumption

2017-07-11 moneycontrol
The Department of Telecom (DoT) on Tuesday said it is working on electrifying 10,486 mobile towers from power grid in order to reduce diesel consumption on cell sites.

$1.1 million purchase order from India

2017-07-06 londonstockexchange
CyanConnode, the world leader in narrowband radio mesh networks, announces receipt of a purchase order from Genus Power Infrastructures Ltd ("Genus") for a smart metering deployment for the Indian state-owned utility Uttar Gujarat Vij Company Ltd ("UGVCL").  This is the Company's first contract award from its new partner, Genus, a tier one meter provider with the largest installed base in India and supplier to multiple utilities.

India#39;s Rural Electrification Corporation lists Green Bond in UK

2017-06-30 moneycontrol
India's Rural Electrification Corporation (REC) today launched its first Green Bond on the London Stock Exchange and raised USD 450 million to finance renewable energy projects in India.

Rural Electrification Corporation (₹169.1)

2017-06-27 premium.thehindubusinessline
North Pune is increasingly being preferred by residentials buyers for its affordability; about 60 per cent of new launches in this zone was below ticket size of Rs 25 lakh. »

Rural Electrification Corp to raise USD 300 million via green bonds

2017-06-23 indiainfoline
Rural Electrification Corp (REC) is planning to raise USD 300 million by selling bonds to overseas investors as early as next week, reported a national news agency.

Power Finance Corporation#39;s 54EC capital gain bond issue in July, to raise Rs 18,000 crore

2017-06-15 moneycontrol
State-run Power Finance Corporation (PFC) is likely to launch its maiden 54 EC capital gain bonds issue early next month and is expecting to raise up to Rs 18,000 crore through issuance of the securities.

Government may consolidate infrastructure financing companies

2017-06-12 indiainfoline
With a view to consolidating the infrastructure financing space, the government looks to explore a merger between Rural Electrification Corporation (REC), Power Finance Corporation (PFC), India Infrastructure Finance Company Limited (IIFCL) and IFCI, reported a national news agency.