Power Finance Corporation Ltd.

Power Finance Corporation (PFC) is currently trading at Rs. 277.05, up by 1.80 points or 0.65% from its previous closing of Rs. 275.25 on the BSE.

The scrip opened at Rs. 276.95 and has touched a high and low of Rs. 278.60 and Rs. 274.00 respectively. So far 42157 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. 179.85 on 17-Apr-2014.

Last one week high and low of the scrip stood at Rs. 291.90 and Rs. 272.40 respectively. The current market cap of the company is Rs. 36631.13 crore.

The promoters holding in the company stood at 72.80% while Institutions and Non-Institutions held 21.89% and 5.31% respectively.

Power Finance Corporation has sanctioned a loan of Rs 4,905 crore to BSES, in a bid to bail out the financially troubled Anil Ambani-promoted firm. BSES discoms had sought a long-term financial solution through PFC, which had proposed a financial package of Rs 11,006 crore last year. This package now has been given an in-principle sanction, subject to BSES meeting the terms and conditions stipulated by the lender. DERC, in its last tariff order of July 2014 and an earlier affidavit submitted in the Supreme Court, has admitted that it owes an amount of Rs 9,811crore to BSES discoms. Further, DERC has also admitted before the apex court that an additional Rs 4,500 crore would be due to BSES discoms on account of APTEL judgements in their forum. BSES, however, would need to approach the Delhi government for a ''Letter of Comfort'’ so as to enable draw down of the loan.