BUSINESS
India’s CPI inflation falls to 5-month low of 4.31 pc in Jan
New Delhi- India’s retail inflation rate, based on the Consumer Price Index, fell to a five-month low of 4.31 per cent in January as prices of vegetables and pulses eased during the month bringing respite to household budgets, according to figures released by the Ministry of Statistics on Wednesday. The easing of inflation reflects a…
REC Limited Signs Agreement with CVPPL, to provide ₹2147.508 Crore Term Loan to Develop 1000MW Pakal Dul Hydro Electric Project
Jammu : REC Limited, a Maharatna CPSE and a leading NBFC under the Ministry of Power, has signed an agreement with Chenab Valley Power Project Limited (CVPPL) to provide a term loan of ₹2147.508 crore (Rupees Two Thousand One Hundred Forty-Seven Crore & Fifty Lakh Eighty Thousand only). The loan will be utilized for the…
REC Declares 3rd Interim Dividend of ₹4.30 per share; Net Profit up 23% to ₹4,029 crore
Delhi- The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the period ended December 31, 2024. Operational and Financial Highlights: Q3 FY25 vs Q3 FY24 (Standalone) – Net Profit: ₹4,029 crore Vs ₹3,269 crore, up by 23% – Net interest income: ₹4,930 crore Vs ₹4,153 crore, up by 19% – Net credit-impaired…
Sensex closes lower as smallcaps shine; investors eye RBI MPC meet, Delhi poll results
Mumbai- The Indian stock market on Wednesday closed lower after a volatile trading session as investors remained cautious amid global uncertainties. All eyes are now on the RBI monetary policy committee (MPC) meeting on February 7, which could announce a rate cut for the first time in the last five years, as well as the…
Tax cuts to spur discretionary consumption especially among salaried people: Report
New Delhi- Fiscal consolidation glide path is maintained with the Union Budget and tax cuts should spur discretionary consumption especially among the salaried class, a report showed on Tuesday. While reaffirming its commitment to fiscal consolidation, the government has tried to stimulate consumption through tax cuts. It targets to lower the fiscal deficit to 4.4…
Jefferies gives Adani Power buy rating with target price of Rs 660, an upside of 30 pc
New Delhi- Global brokerage firm Jefferies on Tuesday initiated coverage on Adani Power Limited (APL), with a buy rating and target price of Rs 660, indicating an upside of 30 per cent from current levels. Adani Power is India’s second-largest thermal power generation company after NTPC, on its journey to raise capacity by 1.7 times…
REC wins Gold Shield in ICAI Award for Excellence in Financial Reporting for the Financial Year 2023-24
New Delhi- REC Limited, a Maharatna Public Sector Enterprise and a leading NBFC- IFC under the Ministry of Power, Government of India, has been awarded ‘Gold Shield’ under the ‘Financial Services Sector (Other than Banking and Insurance)’ category ‘ICAI Awards for Excellence in Financial Reporting for the financial year 2023-24’. The prestigious recognition reflects the…
“Budget provides relief to salaried middle class”: Union Minister Puri lauds FM Sitharaman
New Delhi : Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday lauded the “outstanding” Budget presented by Union Finance Minister Nirmala Sitharaman, which he said catered to all sections of the economy and provided relief to the salaried middle class. “In every respect, it’s an outstanding budget. I want to compliment the…
We see next 5 years as unique opportunity to realise Sabka Vikas: FM Nirmala Sitharaman
New Delhi : Union Finance Minister Nirmala Sitharaman on Saturday in her budget speech stated that the government sees the next five years as a unique opportunity to realise development for all (Sabka Vikas) to stimulate balanced growth of all regions. The Finance Minister remarked that India’s development track record for the past 10 years…
REC Limited Flags Off Mobile Medical Units Funded with ₹4.29 Crore to Strengthen Healthcare Services in Punjab
New Delhi- REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, under its flagship CSR initiative Mobile Medical Units has committed ₹4.29 crore for the procurement and deployment of four Mobile Medical Units (MMUs) in 4 districts of Punjab. These units, handed over to the Indian Red Cross Society, Punjab,…