Page 42 - Rec News Today

Last week, JPL sought the bankruptcy courts approval to participate in the sale process of Lanco Amarkantak. On Friday, the Amaravati bench of National Company Law Tribunal (NCLT) directed JPL to submit a plan by Tuesday (January 16) to lenders along with a ₹100-crore bank guarantee. The NCLT will hear Wednesday JPLs petition whether it can participate in the sale process.

When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

Guidelines to be announced soon would allow these public sector units to cover the installation cost for the solar systems and offer a rent for using the rooftop of houses having a low power demand to make the proposition attractive, people privy to the plan told ET. The companies could recover the investment by the sale of excess electricity after the consumption by the households.

Reliance Industries Limited (RIL) has agreed to sell its 100% equity stake in REC Solar Norway AS to Norways Elkem ASA for $22 million. REC Norway, a subsidiary of RIL, manufactures kerf-based polysilicon in Norway. Elkem, a silicon-based material provider, had sales of approximately NOK 45.9 billion in 2022. The transaction is expected to be completed by April 2024

The highest mobilisation was made by the financial institutions and banks mopping up Rs 4.72 lakh crore, 29 per cent more than Rs 3.66 lakh crore raised in 2022.

ET had reported on Monday that REC, one of the largest state-sponsored infrastructure financiers, would be launching a sale of Yen-denominated bonds this week.

The bonds will issued as part of RECs USD 10-billion global medium-term note programme, the company said in a regulatory filing.

Public sector stocks have emerged as notable outliers, garnering favor from investors in the last 1 year. The Nifty PSE index has soared 81 percent in this period as against a 21 percent rise in benchmark Nifty.

Godrej Properties saw stock pricing dipping up by 2.74% and the open interest saw an increase of 1.46%. BPCL stock price declined by 2.73% and open interest saw a rise of 1.48%.

As the market advances, it is advisable to focus on risk management and have a selective approach while looking out for thematic movers amidst the ongoing sectoral rotation, Sameet Chavan said.