Power Finance Corporation is currently trading at Rs. 110.00, up by 1.35 points or 1.24% from its previous closing of Rs. 108.65 on the BSE.
The scrip opened at Rs. 109.00 and has touched a high and low of Rs. 111.00 and Rs. 106.55 respectively. So far 387096 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 138.80 on 28-Jun-2019 and a 52 week low of Rs. 72.35 on 08-Oct-2018.
Last one week high and low of the scrip stood at Rs. 113.95 and Rs. 106.55 respectively. The current market cap of the company is Rs. 28856.09 crore.
The promoters holding in the company stood at 59.05%, while Institutions and Non-Institutions held 35.54% and 5.41% respectively.
Power Finance Corporation (PFC) has received approval from its board for raising Rs 70,000 crore by issuance of bonds, debentures, notes and debt securities from domestic and international markets on a private placement basis. The proposal would be placed for shareholders’ approval in an annual general meeting of the company on August 27.
Once approved by the shareholders, the company would be able to raise Rs 70,000 crore in a period of one year from the AGM.
PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.