iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

REC gets Maharatna company status

22 Sep 2022 , 05:05 PM

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

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.