BOM:532810

2 stories mentioning BOM:532810Updated 11d ago

Every FINWIRES story that references BOM:532810, newest first.

REC's Merger With Power Finance Corp. Gets Presidential Approval

The proposed merger of REC (NSE:RECLTD, BOM:532955) with Power Finance Corp. or PFC (NSE:PFC, BOM:532810) has received approval from the President of India, according to a Wednesday filing to the Indian stock exchanges.The development follows PFC's acquisition of the Indian government's 52.63% stake in REC for 145 billion rupees in March 2019.Upon the merger being duly approved and being made effective, all the assets and liabilities of the REC will be transferred to PFC, and REC will be dissolved, according to an earlier news release.

BOM:532810BOM:532955NSE:PFCNSE:RECLTD

Asia39d ago

Power Finance Corporation's Consolidated Profit Grows in Fiscal Q4

Power Finance Corporation's (NSE:PFC, BOM:532810) consolidated attributable profit rose to 70 billion Indian rupees in the fiscal fourth quarter ended March 31, from 63.2 billion rupees a year ago.Earnings per share climbed to 21.21 rupees from 19.14 rupees a year earlier, the infrastructure finance company said in a filing to the Indian stock exchanges on Wednesday.Revenue from operations in fiscal Q4, however, slipped to 289.2 billion rupees from 292.7 billion rupees a year ago.The company's board recommended a final dividend of 3.95 rupees per equity share of 10 rupees each for the financial year ended March 31.

BOM:532810NSE:PFC

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