PFC shares rise 3.5% on bonus shares plan

Power Finance Corporation shares rose by over 3.5 per cent today after the company said its board will consider issue of bonus shares on July 14 as per capital restructuring guidelines by the government.
The stock climbed 3.55 per cent to settle at Rs 194.15 on BSE. During the day, it jumped 4.66 per cent to Rs 196.25.
On NSE, it rose by 3.35 per cent to end at Rs 193.95.
On volume front, 8.52 lakh shares of the company were traded at BSE and over 58 lakh shares changed hands at NSE during the day.
PFC said the consideration on bonus shares is based on guidelines on capital restructuring of Central Public Sector Enterprises (CPSE)' issued by Department of Investment and Public Asset Management (DIAPM).

"The Board of Directors of the company in its meeting scheduled to be held on July 14, shall consider recommendation of issue of bonus shares," the company said in a regulatory filing.