Ashok Leyland announced that it has received large order worth Rs 150 crore from Billion E-Mobility for delivery of 180 electric trucks.
Asian Paints, Berger Paints Q2 numbers seen weak but will continue to dominate 5 years down the road: Abneesh Roy (07-10-2024)
Abneesh Roy of Nuvama Institutional Equities discusses the expected weak Q2 results for major paint companies like Asian Paints and Berger Paints. He highlights potential consolidation in the sector and comments on the positive impact of duty cuts on jewelry sales for Kalyan and Titan. He also shares insights on the competition in quick commerce affecting companies like DMart.
Mukul Agrawal portfolio: SME stock soars 15%; zooms 223% over issue price (07-10-2024)
Siyaram Recycling share price hit a new high of Rs 148.65, soaring 15% in the intraday trade, after the company’s board approved allotment of 2.2 million equity shares of the company to Mukul Agrawal
ITC: “Will”(s) “Gold Flake” assist “Ashirwad” to win “Bingo!”? (07-10-2024)
(post deleted by author)
PG Electroplast Ltd leads losers in ‘A’ group (07-10-2024)
BF Utilities Ltd, Vakrangee Ltd, Bombay Burmah Trading Corporation Ltd and Valor Estate Ltd are among the other losers in the BSE’s ‘A’ group today, 07 October 2024.
Wockhardt’s once-a-day antibiotic drug ‘WCK 6777’ successfully concludes Phase I study (07-10-2024)
Also receives USFDA fast track designation
Rural Elect Corp (07-10-2024)
REC Ltd Recent Updates: Major Financing Deals, Growth in Renewable Energy, and Nuclear Power Expansion
- REC Signs Rs 3 Lakh Crore Financing Agreement with Rajasthan Government:
REC Limited has partnered with the Rajasthan government to provide Rs 3 lakh crore in financing over the next six years for power and non-power infrastructure projects. The company will contribute Rs 50,000 crore annually, a significant increase from the previous Rs 20,000 crore per year commitment, extending support until 2030. - H1 FY2024-25 Loan Disbursement Growth:
REC has disbursed a total of Rs 90,955 crore in loans during the first half (H1) of FY2024-25, reflecting a 20.10% year-on-year increase compared to the Rs 75,731 crore in the same period last year. Of this, renewable energy loans accounted for Rs 11,297 crore, a remarkable 92.68% increase over H1 FY2023-24. In Q2 FY2024-25 alone, REC disbursed Rs 47,303 crore, up 13.71% YoY, with Rs 5,946 crore allocated specifically to renewable energy projects. - PFC Secures $1.265 Billion Foreign Currency Loan:
REC’s sister company, Power Finance Corporation (PFC), closed a $1.265 billion foreign currency loan, the largest-ever by an Indian PSU. The loan will support assets outside of thermal power, promoting green energy transition and decarbonization efforts. - REC’s Growing Focus on Renewable and Nuclear Energy:
As global demand for electricity increases, REC is investing heavily in nuclear power as part of India’s broader shift towards clean energy. Though India’s nuclear power generation is still small, the push to increase capacity is gaining momentum. Nuclear energy, which provides clean, 24/7 power, has already saved 716 million tons of carbon emissions in India. REC’s focus on renewable energy loans and international transmission projects further highlights its role in supporting India’s transition to a 50% non-fossil fuel energy mix. - India’s Energy Transition and REC’s Role:
India is currently ranked fourth globally in installed renewable energy capacity, including large hydro, wind, and solar power. REC continues to support this transition through increased financing, expanding its role in nuclear and renewable energy to help reduce the nation’s carbon footprint.
These updates showcase REC’s key role in financing India’s green energy transition and its commitment to decarbonization, alongside notable growth in its loan disbursements, particularly in the renewable energy sector.
Sources: https://www.bseindia.com/xml-data/corpfiling/AttachHis/9573e767-32c7-40f8-bf41-7b4baf8af945.pdf