Hot Pursuit

Scrips, which has significant changes during the market hours.

REC gets 'Maharatna' company status
22-Sep-22 17:05Hrs IST

In an exchange filing, the public finance company said, Based on its financial and other parameters, the Department of Public Enterprises (DPE), Ministry of Finance, Government of India, vide its office memorandum (OM) dated 21 September 2022, has conveyed grant of 'Maharatna' status to REC.

REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings.

The company recorded 8.2% rise in consolidated net profit to Rs 2,454.16 crore on a 0.5% decline in total income to Rs 9,506.06 crore in Q1 FY23 over Q1 FY22.

Shares of REC closed 0.73% higher at Rs 103.65 on the BSE

Powered by Capital Market - Live News

Attention Investor :

"Prevent unauthorised transactions in your account ; Update your mobile numbers/email IDs with Us. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day” - Issued in the interest of Investors"

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

"No need to issue cheques by investors while subscribing to Equity IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

A Muthoot M George Enterprise