Power Finance Corporation was up 0.63% to Rs 225.25 at 9:55 IST on BSE after net profit rose 8.64% to Rs 1712.55 crore on 5.91% rise in total income to Rs 7158.66 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours yesterday, 9 August 2016.Meanwhile, the S&P BSE Sensex was down 54.24 points or 0.19% at 28,030.92.
On BSE, so far 1.12 lakh shares were traded in the counter as against average daily volume of 2.64 lakh shares in the past one quarter. The stock hit a high of Rs 227.95 and a low of Rs 224.50 so far during the day. The stock had hit a 52-week high of Rs 256.60 on 4 November 2015. The stock had hit a 52-week low of Rs 140.40 on 17 February 2016. The stock had outperformed the market over the past one month till 9 August 2016, surging 15.3% compared with 3.53% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.41% as against Sensex's 9.33% rise.
The large-cap company has equity capital of Rs 1320.04 crore. Face value per share is Rs 10.
Power Finance Corporation's (PFC) board of directors gave in-principle approval for the merger of PFC Green Energy (PFC GEL), a wholly owned subsidiary of the company with PFC.
State-run PFC's main business is to provide finance to the power sector. Government of India (GoI) currently holds 67.8% stake in PFC (as per the shareholding pattern as on 30 June 2016).
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