Page 2 - Rec

REC board approves ₹1.70 trillion borrowing plan for FY26 operations

REC Ltd plans to raise ₹1,55,000 cr in FY26 via domestic bonds, debentures, capital gains bonds, rupee term loans, and external commercial borrowings (ECBs)

Dividend stocks: Bombay Burmah Trading, 5 others to remain in focus today

Here are the complete details of stocks that will remain in the spotlight today, owing to the announcement of interim dividends for their respective shareholders

Dividend, bonus issue: REC, TVS Motor, 6 others to go ex-date next week

Here is the complete list of stocks to remain in focus during next week, following the announcement of corporate actions such as dividends, bonus issues, and rights issues etc

REC, Canara Bank raise Rs 10K cr via bonds; Ireda plans perpetual issue

Nabard, Sidbi to tap market this week to raise Rs 17,000 crore; Ireda eyes Rs 2,000 crore via perpetual bonds

Major issuers to tap bond market to raise over Rs 20K cr in next few days

REC is tapping the market on March 17 to raise as much as Rs 6,000 crore through two tranches via bonds maturing in three years and 10 years

Amid hardening of yields, REC and IIFCL do not raise full quantum

REC raised Rs 2,595 crore at 7.28%; IIFCL raises Rs 1,040 crore at 7.56%

REC Q3 results: PAT grows 23% to Rs 4,076 cr, income at Rs 14,286.91 cr

State-owned REC Ltd on Thursday posted a 23 per cent rise in consolidated net profit to Rs 4,076.35 crore in the December quarter, aided by higher income. It had posted a net profit of Rs 3,308.42 crore in the October-December period of 2023-24 financial year, the company said in an exchange filing. The company's total income rose to Rs 14,286.91 crore in the reporting quarter from Rs 12,071.54 crore in the year-ago period. Total expenses stood at Rs 9,105.94 crore in the latest December quarter as against Rs 7,899.85 crore a year earlier. The board of the company also approved a third interim dividend of Rs 4.30 per share for the financial year 2024-25 and set February 14 as the record date for shareholders to become eligible for the payment. It further approved formation of a joint venture between REC Power Development and Consultancy Limited (a wholly-owned subsidiary of REC) and Mahagenco Renewable Energy Limited in the shareholding ratio of 50:50 for the development of renewa

NaBFID raises Rs 5,000 crore via 15-year bonds at 7.25% cut-off rate

The cut-off for 'AAA'-rated issuers' long-term issuance has moved up in the last few months, market experts said

REC raises Rs 2,297 cr via 10-year bonds, IRFC eyes Rs 3K cr on Wednesday

The issuance has a base size of Rs 500 crore with a green shoe option of Rs 2,500 crore

Stocks to Watch, Jan 8, 2025: Tata Steel, Sobha, M&M, REC, SBI, RVNL, CESC

Stocks to Watch, Jan 8, 2025: From Tata Steel to Dr. Reddy's Labs, here is a list of stocks that will remain in focus today

REC looks to sell Rs 2,848 cr bad loans in Corporate Power with 98% haircut

REC's exposure to CPL is part of a term loan extended by a consortium of lenders, where its voting share is 19.55 per cent in the liquidation process

State-owned REC raises Rs 2,195 crore via bonds of different maturities

Market participants said that the company did not raise the entire amount as the investors were demanding a higher coupon

Bharti Telecom raises Rs 11,150 crore via bonds to fuel investment goals

REC looking to raise Rs 6,500 crore this week

REC Q2 results: Net profit grows 7% to Rs 4,037 cr on higher income

State-owned REC Ltd on Saturday posted around 7 per cent rise in its consolidated net profit to Rs 4,037.72 crore for the September 2024 quarter, mainly on the back of higher income. Its consolidated net profit stood at Rs 3,789.90 crore in the quarter ended September 2023, a BSE filing showed. The total income rose to Rs 13,706.31 crore in the quarter under review from Rs 11,684.89 crore a year ago. The board also approved the second interim dividend of Rs 4 per equity share of Rs 10 each for 2024-25. The record date for the interim dividend is November 18. The interim dividend will be paid on or before November 22, 2024. In a separate statement, the company said, "Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of finance cost, REC is able to maintain its spreads and NIMs (Net Interest Margin) resulting in H1 PAT of Rs 7,448 crore". The earnings per share (EPS) for the period ended September 30, 2024, accelerated to Rs 2

REC disburses loans worth Rs 90,955 cr from Apr-Sep, up 20% from yr ago

State-owned REC has disbursed loans worth Rs 90,955 crore during April-September FY25, up 20.10 per cent from the year-ago period. Of the total amount, Rs 11,297 crore was green loan, 92.68 per cent higher year-on-year, the company said in a statement. In the September quarter of FY25, REC said it disbursed Rs 47,303 crore loans, 13.71 per cent higher than the Rs 41,598 crore disbursed a year earlier. Of this, renewable energy loans aggregated to Rs 5,946 crore, up 37.35 per cent YoY. Renewable energy loans accounted for 13 per cent of the total disbursals in the July-September period in FY25 as against 10 per cent in the year-ago period. REC, under the Ministry of Power, is a non-banking financial company focusing on power sector financing in India.

REC's deep-discount zero-coupon bond issuance receives strong demand

The issuance had a base issue size of Rs 1,000 crore, with a greenshoe option of Rs 4,000 crore. The company received bids worth Rs 33,670 crore, nearly 34 times the base issue

REC witnesses hefty investor demand for rare corporate bond issue

The non-banking financial company raised Rs 5,000 crore ($596.7 million) through a deep-discount zero-coupon bond at a yield of 6.25 per cent

REC raises $500 million via green bond to support renewable energy projects

State-owned REC Ltd on Saturday said it has raised USD 500 million through green dollar bonds to support various renewable energy projects. The 5-year note has a coupon rate of 4.75 per cent per annum to be paid semi-annually and the maturity date of September 27, 2029. This is the first US dollar bond issuance from an Indian public sector enterprise in 2024, REC said in a statement. The latest fund raise was part of USD 10 billion global medium-term programme of the company. The proceeds will be used to finance eligible green projects, in accordance with REC's Green Finance Framework as per green bond principles of Climate Bond Initiative, London and RBI's ECB guidelines, with a second-party opinion from Sustainable Fitch, it said. "The overwhelming demand for our green bonds, amidst a challenging global financial environment, reflects the established standing of India as a key player in the green finance market," said Vivek Kumar Dewangan, CMD of REC Ltd. The notes will be rated

Infra lender REC signs renewable energy agreements worth $13.4 billion

REC is targetting to take its renewables loan book to over Rs 3 trillion by 2030, expanding the share of renewables to 30 per cent from 8 per cent currently

REC inks pact with JNPA for financing projects up to Rs 45,000 crore

REC will provide funds for JNPA's infrastructure projects, including the Vadhavan port development plan