REC Ltd modest share‑price bounce after exchange penalties.

The President has approved the merger of REC into Power Finance Corporation (PFC), nearly seven years after PFC acquired the government’s majority stake in REC. The transaction is still subject to final regulatory, creditor and shareholder steps, but the approval marks a key milestone toward creating one of India’s largest power‑financing institutions. Operationally, REC’s subsidiary RECPDCL handed over Musalgaon Power Transmission Limited (the Maharashtra intra‑state transmission SPV) to Maharashtra State Electricity Transmission Company Ltd (MSETCL), completing the sale and transfer of this project SPV. On the regulatory front, BSE and NSE imposed fines totaling over ₹59 lakh on REC (along with NTPC and SJVN) for non‑compliance with certain listing/board‑composition norms; REC has filed its comments on the penalties. Shares closed around ₹314.65 on September 16 (up ~2.16% that day) and have been trading in the ₹303–₹315 range recently, with a 52‑week low near ₹303.25.