REC Surges 7% on Strong Q3 Earnings, Rooftop Solar Push | Stock Market News

REC shares soared over 7% after reporting a strong Q3FY24 with a 13.6% rise in net profit, reaching Rs 3,269.3 crore. Net interest income also grew 18% to Rs 4,159 crore. Further boosting investor sentiment, REC announced plans to lend up to Rs 1.2 lakh crore for rooftop solar installations under the Pradhan Mantri Suryoday Yojana, supporting the government's 10 GW target by 2026.