Power Finance Corporation ltd. Shares Clocked A 52-Week High

Power Finance Corporation’s wholly-owned subsidiary — PFC Consulting has incorporated two wholly-owned subsidiaries i.e., Bikaner III Neemrana Transmission and Neemrana II Bareilly Transmission. Bikaner III Neemrana Transmission has been incorporated for the development of a ‘Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-A’ on June 8, 2023. 

PFCCL has been nominated as the Bid Process Coordinator (BPC) for the selection of developers through tariff-based competitive bidding for the Independent Transmission Projects (ITPs) by the Ministry of Power, Government of India.  

As per the provisions of tariff-based competitive bidding Guidelines issued by the Ministry of Power, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required.  

Power Finance Corporation (PFC) is the central PSU under the Ministry of Power and India’s leading NBFC. The company is engaged in providing financial assistance to Power Utilities for meeting financing and development requirements of the power sector. To meet its fund requirement, PFC has been raising funds by way of issuance of bonds, term loans from Banks/FIs and ECBs, etc. 

Power Finance Corporation is currently trading at Rs 202.90, up by 4.10 points or 22.06% from its previous closing of Rs 198.75 on the BSE. The scrip opened at Rs 199.50 and has touched a high and low of Rs 200.40 and Rs 198.95 respectively. So far 4,92,632 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 202.95 on 12-Jun-2023 and a 52-week low of Rs 97.15 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs 200.40 and Rs 190.45 respectively. The current market cap of the company is Rs 53,474.86 crore. The promoters holding in the company stood at 55.99%, while Institutions and Non-Institutions held 35.12% and 8.89% respectively.