Refile: BUZZ-India's Power Finance Corp falls after approval of merger with REC

Power Finance

29/06/2026 06:52

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** Shares of Power Finance Corporation PWFC.NS fall 1.8% to 424.85 rupees
** Boards of PWFC and REC RECM.NS approved merger of REC into PWFC
** PWFC to issue 88 shares for every 100 shares held in RECM
** Co said merger shall create a financing entity with an aggregate loan book of over 11 trln rupees ($116.56 bln)
** YTD, PWFC up about 20% and RECM up around 2% 

($1 = 94.3725 Indian rupees)

 (Reporting by Vijay Malkar in Bengaluru)
 ((VijayDattaram.Malkar@thomsonreuters.com; +91 8097833031;))