February 22, 2024

Moneycontrol on January 23 reported that REC, which is a Maharatna energy finance firm, will lend as much as Rs 1,20,000 crore for the set up of rooftop photo voltaic panels below the Pradhan Mantri Suryoday Yojana.

Shares of REC gained over 7 p.c in early trades on January 24, after the state-owned agency reported a 13.6 p.c improve in web revenue for Q3FY24. As of 10:20am, the inventory was buying and selling at Rs 466.20. REC is a subsidiary of PFC (Energy Finance Company). Shares of PFC additionally gained round 4.4 p.c and was buying and selling at Rs 413.10.

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On January 23, REC reported a web revenue of Rs 3,269.3 crore for Q3FY24, round 13.6 p.c increased than Rs 2,878 crore within the earlier fiscal. Web curiosity revenue (NII) for the reporting interval was round Rs 4,159 crore, 18 p.c increased than the earlier fiscal.

Additionally learn: Pradhan Mantri Suryoday Yojana: REC Ltd made nodal company; to lend Rs 1.2 lakh cr

Moneycontrol on January 23 reported that REC, which is a Maharatna energy finance firm, will lend as much as Rs 1,20,000 crore for the set up of rooftop photo voltaic panels below the Pradhan Mantri Suryoday Yojana. This announcement was made by REC Chairman and Managing Director (CMD) Vivek Kumar Dewangan throughout a media interplay.

It can assist the federal government obtain 10 GW of the 40 GW goal set for the interval until 2026.

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