REC recorded loan sanctions of Rs 12,747 crore and loan disbursements of Rs 43,652 crore during the first quarter ended June 30, 2024,live bse livense live Volume Todays L/H More ×Shares of state-run power financier REC Ltd on July 1 were trading at day's high after the firm reported strong business growth in the first quarter of 2024-2025.
The shares were up 3.10 percent around noon to trade at Rs 541.65 apiece on BSE.
In a regulatory filing, REC noted that in Q1FY25, loan growth remained very strong, powered by renewables, which grew nearly 250 percent.
Earlier, in May, the Reserve Bank of India (RBI) proposed that lenders increase provisions for under-construction infrastructure projects and ensure strict monitoring for any emerging stress.
Starting in 2012-13, Indian banks faced large defaults on infrastructure loans due to exuberant lending, straining the banking system.
REC recorded loan sanctions of Rs 12,747 crore and loan disbursements of Rs 43,652 crore during the first quarter ended June 30, 2024,
live bse live
nse live Volume Todays L/H More ×
Shares of state-run power financier REC Ltd on July 1 were trading at day's high after the firm reported strong business growth in the first quarter of 2024-2025. The shares were up 3.10 percent around noon to trade at Rs 541.65 apiece on BSE.
In a regulatory filing, REC noted that in Q1FY25, loan growth remained very strong, powered by renewables, which grew nearly 250 percent.
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It recorded loan sanctions of Rs 12,747 crore and loan disbursements of Rs 43,652 crore during the first quarter ended June 30, 2024, which translates into significant growth of 24.17% and 27.89%, respectively, over the corresponding quarter of financial year 2023-24.
REC's stock has been gaining for last 5 trading sessions on news reports suggesting that the Ministry of Finance may propose some relaxation to finance companies from the Reserve Bank of India's proposed tight project financing norms.
Earlier, in May, the Reserve Bank of India (RBI) proposed that lenders increase provisions for under-construction infrastructure projects and ensure strict monitoring for any emerging stress.
The RBI issued draft guidelines based on banks' experiences with project financing. Starting in 2012-13, Indian banks faced large defaults on infrastructure loans due to exuberant lending, straining the banking system.
