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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.

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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.

Will support if govt decides to consolidate infra financiers, says REC

2017-06-12 moneycontrol
Reports suggest that the government is looking at consolidation in the infrastructure financing space by mulling a merger between India Infrastructure Finance Company Limited (IIFCL), Rural Electrification Corporation (REC), IFCI and Power Finance Corporation (PFC).

MSCI indices rejig takes effect today

2017-05-31 thehindubusinessline
From Thursday, Indian Oil Corporation and Rural Electrification Corporation will be part of the MSCI Global Standard Index while Divi’s Laboratories will be out.

Nifty June 2017 futures trades at premium to spot closing

2017-05-31 indiainfoline
The June 2017 futures on the Nifty 50 index traded at 9,629.05, a small premium of 7.80 points compared with the Niftys spot closing of 9,621.25.

REC posts profit of Rs 6,246 cr

2017-05-31 freepressjournal.in
New Delhi : Rural Electrification Corporation (REC) focused on financing power projects announced its financial results for the quarter and year ended March 31, 2017 in a meeting. The total income of the company for the year ended 31 March 2017 has risen to Rs 24,096 crore as against Rs 23,757 crore in the previous corresponding year. The Profit before Tax (PBT) for the year is Rs 8,861 crore, an increase of 10 per cent over the corresponding last year.

REC Q4 profit rises 14% to Rs1,319 crore

2017-05-30 livemint
REC posted a net profit of Rs1,160.03 crore in the fourth quarter of the year ago period

REC recommends final dividend

2017-05-30 indiainfoline
Rural Electrification Corporation (REC) on Tuesday announced that the board of directors have recommended the payment of final dividend of Rs 2.65 per share on the face value of Rs 10 each for FY17.

Top buzzing midcap stocks to trade on May 30

2017-05-30 moneycontrol
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today – Aurobindo Pharma, Bharat Heavy Electricals, Bharat Petroleum Corporation, Jubilant Foodworks, Power Finance Corporation, Rural Electrification Corporation, India Cements, Narayana Hrudayalaya, Manpasand Beverages and Bata India.

Govt powers ahead with selection of advisors for share sale in NHPC, 2 other PSUs

2017-05-26 moneycontrol
The government’s disinvestment agenda is gathering steam with the Finance Ministry’s Department of Investment and Public Asset Management selecting merchant bankers for sale of government’s holding in several public sector companies. Joining the queue are power sector-focused public sector companies — hydroelectric power generator NHPC and lenders to the power sector — Power Finance Corporation and Rural Electrification Corporation (REC).

NTPC divestment: Citi, Jefferies, Yes, Axis to advise on year’s largest share sale

2017-05-26 moneycontrol
The government has selected Citigroup Global Markets India, Jefferries India, Yes Securities and Axis Capital to advise it on the proposed sale of its shares in NTPC. The government wants to sell shares equivalent to 10 percent of the state-owned generator’s equity as part of its plan to divest its holding in public sector companies. The sale of shares is expected to be the year’s largest and also ranks among the top 5 divestments ever done by the government.

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