President of India has reportedly approved the proposed merger of REC into PFC, $RECLTD $PFC

Yes, according to market reports circulating today, the President of India has reportedly approved the proposed merger of REC into PFC, which is a major milestone in the consolidation process. However, as of now, I have not found an official stock exchange filing from either PFC or REC confirming receipt of the Presidential approval today. The latest official disclosures available previously indicated that the boards had approved the proposal and forwarded it for Presidential approval. What this means for investors: Positive sentiment for both Power Finance Corporation and REC Limited. Focus now shifts to the share swap ratio, regulatory approvals, and final merger scheme. The combined entity would become one of India's largest power-sector financing institutions. Likely market reaction: ✅ Positive for PFC and REC ✅ Potential rerating due to scale and efficiency benefits