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Looking to raise funds at competitive rates in domestic overseas markets: REC

2017-12-14 moneycontrol
Bond yields have moved up by 53 basis points (bps) so far in Q3 of FY18. This hardening of bond yields is likely to impact the cost of funds for non banking financial companies (NBFCs). In an interview to CNBC-TV18, PV Ramesh, CMD of Rural Electrification Corporation (REC) spoke at length about the same.

Rural Electrification Corporation (₹147)

2017-12-12 premium.thehindubusinessline
Buying a house to just rent it out may not be a lucrative option in India, shows study of data provided by JLL India. Average rental yields were 3.1 per cent, as of May 2017, for top six cities in... »

PFC, REC wary but govt explores forming company to take over stressed power assets

2017-12-08 moneycontrol
As it attempts to resolve an outstanding debt of Rs 1.8 trillion stuck in as many as 34 coal-based power generation projects, the government is now exploring the option of forming a special purpose vechile to ensure those stranded power units are up and running and interests of all stakeholders are taken care of, according to an official familiar with the development.

We#39;re looking to buy out partners or having ESSL issue shares to us: REC#39;s PV Ramesh

2017-11-27 moneycontrol
Rural Electrification Corporation has been in the business of funding generation, transmission and distribution projects as well as spearheading government’s power sector initiatives in the rural areas for almost five decades. Moneycontrol caught up with the company’s Chairman and Managing Director PV Ramesh to discuss the emerging scenario in the power sector as the company gets closer to achieving its targets. (4-0)

Rural Electrification well positioned to be a wholesale bank, says lender’s head

2017-11-27 moneycontrol
Is it the fatigue of being in the business of connecting thousands of villages with electricity for almost five decades? Or is it that banking is oh so sexy? Talk to PV Ramesh of Rural Electrification Corporation, the company spearheading the government’s various initiatives to bring power to the villages, and you realise neither is the reason. It’s a plain, unadulterated business plan of an enterprise to look at new opportunities – in REC’s case wholesale banking – as and when they come up.

Indians face higher power bills as government mulls passing on green costs

2017-11-21 moneycontrol
India is considering regulatory changes to let power companies pass on costs of installing emission-cutting equipment to consumers, a government official said, a politically sensitive proposal amid rising pollution in big cities.

Indians face higher power bills as government mulls passing on green costs

2017-11-21 in.reuters
NEW DELHI (Reuters) - India is considering regulatory changes to let power companies pass on costs of installing emission-cutting equipment to consumers, a government official said, a politically sensitive proposal amid rising pollution in big cities.

India Billionaires Mount Dollar-Debt Rush After Nation's Upgrade - Bloomberg

2017-11-20 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. (31-0)

REC, NTPC arm sign loan pact

2017-11-15 thehindubusinessline
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.

REC to provide Rs 14K cr loan for 2,400 MW Patratu power plant

2017-11-15 moneycontrol
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.

REC, PVUNL sign ₹14,000-cr loan agreement

2017-11-15 thehindubusinessline
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.

Bharat-22 ETF opens for anchor investors on Tuesday; Centre hopes to raise ₹8,000 crore through NFO

2017-11-13 thehindubusinessline
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)

REC gains 3% post Q2 results; brokerages maintain positive stance

2017-11-07 moneycontrol
Rural Electrification gained over 3 percent intraday on Tuesday as investors reacted to the company’s results.

UDAY pre-payment blamed for REC net dropping 30% in Q2

2017-11-06 thehindubusinessline
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.

REC net profit down 30% in Q2FY18

2017-11-06 business-standard
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.