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REC Ltd, a state-run infrastructure finance firm, achieved a record quarterly net profit in the September quarter. REC's Chairman and Managing Director, Vivek Kumar Dewangan, aims to increase lending to the renewable energy sector tenfold and raise the share of renewable energy in its loan book to 30% over the next seven years.
Committed to India’s net zero targets, REC is on track to achieve a green finance loan book of ₹3 trillion by fiscal year 2030
Adani's new offer comes several months after a majority of lenders voted for a ₹3,020 crore resolution plan from a PFC-led consortium. In January, the PFC-led consortium's proposal secured 95% of votes, while Adani Power got 17% votes. Reliance Industries, which was also in the race offering ₹2,103 crore, did not receive any votes.
Continuous selling by foreign institutional investors, combined with bearish positioning in the monthly F&O expiry, has pushed down the index prices
ETMarkets analysis showed that at least 10 stocks, added by more than 20 mutual fund schemes in September, have given stellar returns so far in FY24, with four of them even turning out to be multibaggers.