BOM:532955

2 stories mentioning BOM:532955Updated 11d ago

Every FINWIRES story that references BOM:532955, 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

Asia55d ago

REC Logs Lower Fiscal Q4 Consolidated Profit

REC (NSE:RECLTD, BOM:532955) saw a decline in its consolidated net profit to 33.8 billion Indian rupees in the fiscal fourth quarter from 43.1 billion rupees a year ago, according to an Indian bourse filing on Tuesday by the power finance company.Earnings per share during the quarter ended March 31 contracted to 12.69 rupees from 16.24 rupees in the year-ago period.Total revenue from operations in fiscal Q4 also decreased to 145.6 billion rupees from 153.3 billion rupees a year earlier.Additionally, the company declared a third interim dividend of 1.55 rupees per share for the financial year ended March 31.

BOM:532955NSE:RECLTD

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