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Power Finance Corporation slips as Centre deallocates coal block allotted to its arm

06 Jan 2020 Evaluate

Power Finance Corporation is currently trading at Rs. 114.95, down by 3.75 points or 3.16% from its previous closing of Rs. 118.70 on the BSE.

The scrip opened at Rs. 118.35 and has touched a high and low of Rs. 118.35 and Rs. 114.20 respectively. So far 64612 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. 90.50 on 11-Oct-2019.

Last one week high and low of the scrip stood at Rs. 121.10 and Rs. 112.70 respectively. The current market cap of the company is Rs. 30334.54 crore.

The promoters holding in the company stood at 56.16%, while Institutions and Non-Institutions held 38.63% and 5.22% respectively.

The Centre has deallocated Bankhui coal block in Odisha allotted to Power Finance Corporation’s (PFC) wholly owned subsidiary -- Sakhigopal Integrated Power Company for a 4000 MW power project on account of delays in the development of the mine. The Centre has noted that even after lapse of nine years since allocation of the coal block (Bankhui), no progress has been made to operationalise the coal block. It has been decided, with the approval of the competent authority, to deallocate Bankhui coal block.

The coal ministry had in 2010 allocated the coal block in Odisha for a 4000 MW power project to be set up by Sakhigopal Integrated Power Company.

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.

 

Power Finance Corp Share Price

464.85 5.85 (1.27%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 464.85
REC 373.35
Indian Railway Fin. 104.85
NHIT 151.00
Satin Creditcare 174.75
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