Page 55 - Rec News Today

Aditya Birla Finance has the room to raise as much as ₹2,000 crore through the NCDs issue, which opens on September 27 and closes on October 12, with an option to close early on account of oversubscription. The instrument, which has the highest AAA credit rating, has a face value of ₹1,000 apiece and investors need to apply for a minimum of 10 NCDs worth ₹10,000.

Digant Haria, founder of Greed Edge Wealth, explains the business models of these companies, the challenges they face on margins and why a big improvement in the financial health of ailing electricity boards may turn out to be counterproductive.

REC is looking at expanding its loan portfolio for green projects to ₹3 trillion by 2030. The company had raised $1.15 billion in April

Rec: The collaboration aims to co-finance debts totaling Rs. 55,000 crore over the next three years under a consortium arrangement.

"REC Limited signed an MoU with Punjab National Bank (PNB) on Tuesday to jointly explore the possibility to fund the Power Sector and Infrastructure and Logistics Sector projects under the consortium arrangement. REC and PNB will associate with each other to co-finance loans amounting to Rs 55,000 crore over the next three years," the statement said.

It has raised Rs 3,000 crore debt funding from REC and Rs 2,600 crore debt funding from PFC, the company said in a statement.

The number of smallcap stocks which delivered double-digit gains during the week further fell to just 22. In the previous week, about 40 stocks had seen a double-digit rally, which too was a drop from about 100 double-digit gainers in the preceding week. Only three smallcap stocks have offered returns over 25% in this week. Further, about three of them rallied between 20-25%.

The net long position of foreign portfolio investors decreased from Rs 62,030 crore on Friday to Rs 58,995 crore on Monday.

Indian frontline indices fell on Monday amid profit-selling pressure in bank, IT and metals stocks. The S&P BSE Sensex snapped its 11-session winning streak as it ended at 67,596.84, down by 241.79 points or 0.36%. The broader Nifty50 fell by 69.80 points or 0.35% to close at 20,122.55. Meanwhile, banking gauge Nifty Bank settled at 45,942.65., lower by 288.85 points or 0.62%.

The top gainer is state-run Mazagon Dock Shipbuilders, which has given over 479% returns during this period. The stock had ended at Rs 391.30 on the BSE on August 30, 2022 while the Monday closing price was 2,198.05. It was followed by Rail Vikas Nigam Limited (RVNL) which returned nearly 418%.