Power Finance Corporation Ltd News

PFC raises Rs 6,252 crore via issuance of bonds with different maturities

DME Development issues its first green bond

Power Finance Corporation shares zoom 5% on ex-dividend date; details here

Power Finance Corporation shares are trading ex-dividend today following the company's announcement of a second interim dividend of Rs 3.50 per share for the financial year 2024-25

Nifty PSU Bank index slips 5%; PNB, BOB, Canara, SBI dip up to 7%

At 10:00 AM, the Nifty PSU Bank index, the top loser among sectoral indices, was down 4.7 per cent, as compared to the 0.92 per cent decline in the Nifty 50

PFC not to take exposure in Shapoorji Pallonji Group: CMD Chopra

The board of PFC has decided not to sanction loans to Shapoorji Pallonji Group as it does not favour takeing "high-end exposure", PFC CMD Parminder Chopra said. The Power Finance Corporation (PFC) chairman and managing director (CMD) Parminder Chopra made the remarks in a post earnings call. "The Board in its wisdom has decided that since it's a new sector for us, so we may not take that high-end exposure," she said in reply to a question related to sanctioning loan to Shapoorji Pallonji. Shapoorji Pallonji Group is a business conglomerate which specializes in sectors like engineering and construction. PFC had conducted a due diligence process related to sanctioning loan to Shapoorji Pallonji, she said. It was finally decided not to go ahead with the sanctioning of the loan for Shapoorji Pallonji, the chairman said. As per media reports, PFC has rejected loan proposal worth around USD 2.4 billion to Shapoorji Pallonji. PFC is an infrastructure finance company under the power min

PFC shares gain 9% after reporting Q2 results; declares Rs 3.5 dividend

The company declared a second interim dividend of Rs 3.5 per share and fixed the record date as November 25, 2024

PFC Q2 results: Profit up nearly 9% to Rs 7,215 cr on higher revenue

State-owned Power Finance Corporation (PFC) on Friday posted nearly 9 per cent rise in consolidated net profit at Rs 7,214.90 crore for September quarter mainly on the back of higher revenues. The company logged a profit of Rs 6,628.17 crore in the same period of FY24, according to a BSE filing. Total income rose to Rs 25,754.73 crore from Rs 22,387.32 crore a year ago. The company logged 14 per cent rise in consolidated Profit After Tax in April-September FY25, to Rs 14,397 crore from Rs 12,610 crore a year ago. Consolidated net worth (including non-controlling interest) increased by 17 per cent from Rs 1,23,703 crore as on September 30, 2023 to Rs 1,45,158 crore as at September-end this year. There was 13 per per cent growth in consolidated loan asset book, from Rs 9,23,724 crore as on September 30, 2023 to Rs 10,39,472 crore at September-end this year. Owing to concentrated resolution efforts, consolidated Net NPA (bad loans) reached its lowest level at 0.80 per cent in H1 FY2

F&O Insights: Will Bank Nifty see short-covering? Check key levels here

Derivatives market update for Sept 11: Bank Nifty weekly options PCR stands at 0.9:1; key trigger point at 51,550. Premium in Bank Nifty futures down to 99 pts from 255 pts in just 3 trading sessions.

F&O Insights: See what FIIs OI, PCR data suggests; HUL, PFC, RECL in focus

Derivatives market update for Sept 10: IndiaMart InterMesh, HUL and Sun TV saw long buildup on Monday; while PFC, RECL and Granules India saw shorts added.

These stocks rallied up to 13% in run-up to Sept rollovers; what next?

Technical Outlook: RECL, PFC can potentially rally up to 17 per cent from here on; while Birlasoft and LTIMindtree may witness a sharp fall, suggests technical charts.

PFC, REC gain up to 3% as UBS initiates 'buy' rating on high growth outlook

UBS believe REC and PFC's growth drivers and trajectory will be similar, with REC growing slightly ahead of PFC.

F&O Insights: FIIs up Nifty, Bank Nifty bullish bets; futures premium dip

Derivative market update for Wednesday, August 28: The Nifty September futures premium dipped from Rs 155 to Rs 116 yesterday; while, Bank Nifty futures premium declined to Rs 257 from Rs 328.

PFC secures 25.5 bn yen loan from JBIC to finance wind energy project

State-owned Power Finance Corporation (PFC) on Thursday said that it has secured a loan of 25.5 billion Japanese yen (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project. This loan is part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, a PFC statement said. According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC. In addition to JBIC's contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions. The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.

Power Finance Corp Q1 results: Net profit rises over 20% to Rs 7,182 cr

State-owned Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. The company reported a consolidated net profit of Rs 5,982.14 crore in the quarter ended on June 30, 2024, a regulatory filing showed. Total income rose to Rs 24,736.68 crore in the quarter from Rs 21,017.81 crore in the same period a year ago. The company's board also approved declaration of an interim dividend at the rate of 32.50 per cent or Rs 3.25 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for FY25. Further, the company informed that August 30, 2024 (Friday) shall be reckoned as the 'record date' for ascertaining the eligibility of shareholders for payment of the interim dividend, which will be paid on or before September 5, 2024.

REC, PFC rally up to 4%, at new high in weak market; zoom over 200% in 1 yr

CRISIL Ratings believes REC will continue to benefit from government support, given its strategic role in the implementation of the government's power sector initiatives.

Power Finance Corp approves Rs 15,000 cr loan to Shapoorji Pallonji group

This loan will assist the Mistry family in repaying personal debts, amounting to about $3 billion, and fulfilling commitments made to their creditors

State-owned PFC signs agreement with CVPPPL for Rs 1,870 crore term loan

State-owned PFC on Friday said it has signed an agreement with the Chenab Valley Power Project Private Limited (CVPPPL) to extend a term loan of Rs 1,869.265 crore. The CVPPPL is a 51:49 per cent Joint Venture of NHPC LTD and Jammu And Kashmir State Power Development Corporation Limited (JKSPDC), Power Finance Corporation (PFC) said in a statement. PFC signed an agreement with CVPPPL for Rs 1,869.265 crore term loan, it added. With this agreement, the financial closure for Kiru HEP (hydroelectric project) for Rs 3,738.53 crore has been achieved, PFC said. As per the agreement, the loan will be used to develop and construct the greenfield Kiru Hydro Electric Project (4x156 MW) on the river Chenab in the Kishtwar District of Jammu & Kashmir. PFC, under the Ministry of Power, is the largest non-banking financial company (NBFC).