6/5/2024, 10:19:03 am

Why shares of REC, PFC, IREDA declined as much as 10% on Monday

Shares of REC Ltd., Power Finance Corporation Ltd. (PFC) are down as much as 10% on Monday and have given up most of the gains they made last week. Both stocks had hit a record high in the week gone by. The move comes after Reserve Bank of India's draft guidelines on project financing, which mentioned that 5% general provision should be made on all existing and fresh project loans which are...