Power Finance Corporation surges 5% on heavy volumes; hits over 5-year high

In past six months, the stock has zoomed 51 per cent, as against 8 per cent gain in the S&P BSE Sensex.

Shares of Power Finance Corporation (PFC) hit an over five-year high at Rs 157.80 as they surged 5 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day trade amid heavy volumes. The stock of state-owned financial institution was trading at its highest level since May 2017.

The average trading volumes at the counter jumped over 15-fold today. Till 10:29 AM; a combined 20.23 million equity shares representing nearly 1 per cent of total equity of PFC had changed hands on the NSE and BSE, data shows. In comparison, the S&P BSE Sensex was up 0.10 per cent