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Gurugram authority issues 'WFH' advisory

All corporate offices & private institutions are advised to allow 'work from home' on 10th July 2025 to prevent traffic congestion, district administration of Gurugram issued an advisory on Thursday.The administration also stated that IMD (India Meteorological Department) has issued an 'Orange Alert' for Gurugram."In view of the above situation, all corporate offices and private institutions in the district are advised to guide their employee(s) to work from home today so that traffic congestion can be avoided," the District Magistrate said in line with the District Disaster Management Authority, Gurugram.The advisory read, "In the last 12 hours (7 pm, 09.07.2025 to 7 am, 10.07.2025) 133mm rainfall has been recorded in Gurugram city, including an 'extremely intense spell' of 103mm betw

REC, PFC shares rally up to 3% after Morgan Stanley initiates coverage with overweight rating

Shares of power financing PSUs REC Ltd and Power Finance Corporation (PFC) climbed up to 3% on Thursday after Morgan Stanley initiated coverage on the two stocks with an 'overweight' rating, citing attractive valuations, robust loan growth, and stable asset quality.The global brokerage has set a price target of Rs 485 for REC and Rs 508 for PFC, implying a potential upside of 23% and 21%, respectively, from their previous closing levels.Shares of Power Finance Corporation (PFC) climbed as much as 3.1% to Rs 430.75 on the BSE, while REC shares jumped as much as 2.6% to Rs 401.65.“PFC and REC should each achieve 12% F25-28e loan CAGRs and 17-19% average ROE,” Morgan Stanley said in a note titled India Financials | PFC and REC: Attractive entry point; initiate with OW.Morgan Stanley said

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