Power Finance Corporation Ltd.

Power Finance Corporation is currently trading at Rs. 280.05, up by 7.25 points or 2.66% from its previous closing of Rs. 272.80 on the BSE.

The scrip opened at Rs. 275.30 and has touched a high and low of Rs. 280.75 and Rs. 273.70 respectively. So far 1,60,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 344.20 on 10-Jun-2014 and a 52 week low of Rs. 120.30 on 29-Oct-2013.

Last one week high and low of the scrip stood at Rs. 280.75 and Rs. 252.90 respectively. The current market cap of the company is Rs. 36,393.52 crore.

The promoters holding in the company stood at 72.80% while Institutions and Non-Institutions held 21.41% and 5.79% respectively.

Power Finance Corporation (PFC) has agreed to fund the expansion of the AP Genco Krishnapatnam power project in Nellore district of Andhra Pradesh. The project now has a functional 800 MW unit and second unit of 800 MW is ready for commissioning.

The company has agreed to fund around Rs 3,542 crore for the expansion of Krishnapatnam unit with a capacity of 800 MW. The PFC also expressed its intent to provide around Rs 7,000 crore more for new transmission schemes of AP Transco in the next two to three years.

The unit-I of 800 MW which was commissioned earlier this year is now under the process of stabilisation towards generation with full capacity. The second unit is also in the process of commissioning. AP Genco is now looking at further expansion of this project.

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.