Power Finance Corporation (pfc)

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

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.

Ajit Mishra of Religare Broking recommends buying these stocks on August 29

PFC has registered a decisive breakout from the intermediate falling resistance trendline with strong volumes.

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.

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.

How to trade Modi stocks ahead of LS election results? Complete guide here

The so-called 'Modi-stocks' have rallied up to 50 per cent in the last six months, suggests a CLSA report. What's in store ahead; here's what the charts suggest.

Power Finance Corporation Q4 result: Net profit up 23% at Rs 7,556 cr

The company is expected to borrow around Rs 1 trillion to 1.20 trillion in the financial year

Shapoorji Pallonji Group seeks $1.2 billion loan from Power Finance Corp

As collateral for the initial loan, the SP Group pledged its 18 per cent stake in Tata Sons, the holding company of the Tata Group, according to reports

PFC pays highest-ever interim dividend of Rs 2,033 crore to govt for FY24

State-owned PFC on Wednesday said it has paid a total dividend of Rs 2,033 crore to the government for the financial year 2023-24. The company has paid the dividend in three instalments of Rs 554 crore, Rs 832 crore and Rs 647 crore, it said in a statement. "PFC pays the highest-ever interim dividend of Rs 2,033 crore to the Government of India for the FY24. The interim dividend RTGS (Real Time Gross Settlement) intimation advice was presented to RK Singh, Minister Power, New & Renewable Energy...by CMD Parminder Chopra," it noted. PFC has so far paid interim dividend amounting to Rs 3,630 crore to its shareholders for the financial year 2023-24, the highest-ever interim dividend paid by the company, the statement said. Power Finance Corporation (PFC) is a leading non-banking financial corporation under the Ministry of Power.

Corporate finance firm REC to issue multiple-tenor bonds, say bankers

India's REC plans to raise funds through two bonds, one maturing in three years and two months and the other in 10 years, three bankers said on Friday

RBI imposes Rs 8.80 lakh fine on Power Finance Corp for norm violation

The PFC did not adhere to specific provisions of the RBI's directives on 'Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies

State-owned PFC commits Rs 25,000 cr for power sector projects in Gujarat

State-owned Power Finance Corporation has inked an initial pact with the Gujarat government to provide comprehensive financial backing for the state's generation, transmission, and distribution projects. Power Finance Corporation (PFC) signed an MoU with the government of Gujarat on January 3, 2024, according to a company statement issued on Wednesday. The MoU was signed by Parminder Chopra, CMD PFC and Jai Prakash Shivhare, MD (GUVNL) in the presence of Bhupendra Patel, Chief Minister of Gujarat. The chief objective of this MoU is to provide comprehensive financial backing for the state's generation, transmission, and distribution projects. The MoU, signed in Gandhinagar, marks a significant step towards bolstering various projects undertaken by the Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Pasc

PFC, Yes Bank: Trading strategies for stocks to be added to BSE 100 index

The BSE on Friday announced changes to its Sensex 50, Sensex Next 50 and the BSE 100 index; here's what the charts suggest for select stocks.

This PSU co joins Rs 1-trillion m-cap club; zooms 127% in so far in 2023

Thus far in the calendar year 2023 (CY23), the stock price of PFC has zoomed 127 per cent on strong business performance and healthy outlook

Moody's affirms PFC's & REC's Baa3 ratings, sees asset quality improving

The asset quality of the companies, due to their increasing loan exposure to state power distribution companies (DISCOMs), is expected to remain stable

PFC sanctions Rs 15,000 cr loans, forays into funding of airport projects

State-owned Power Finance Corporation (PFC) on Tuesday announced that it has sanctioned Rs 15,000 crore loans for various projects and also forayed into funding of airport projects. "To reaffirm its commitment towards developing the power sector of the North Eastern Region, PFC held its recent board meeting in Shillong, Meghalaya," a BSE filing said. PFC has sanctioned loans amounting to Rs 15,000 crore for various projects during its board meeting, it stated. As part of its diversification strategy and funding for infrastructure projects, PFC sanctioned its maiden financing for a greenfield airport project in Andhra Pradesh, it added. PFC's board of directors also reviewed strategic agendas pertaining to the company's business diversification strategy, including exploring avenues for expanding the business into new market segments and accelerating the funding in the renewable space, the current domestic and international market scenario and its impact on PFC's borrowing cost, and

Power related stocks in demand; NTPC, PFC, REC, Tata Power rally up to 9%

The power sector in India, is on course for a long period of high growth and transformation which is visible in the increasing deployment of clean renewables.

MSCI shuffle: REC, HDFC AMC, PFC & others to receive upto $214mn inflows

IDFC First Bank, REC, PFC, Ashok Leyland, HDFC AMC, Cummins India, Astral, and Supreme Industries shares are poised to receive $152 to $214 million inflows today

Improving growth prospects powering Power Finance Corp, REC stocks

All analysts polled this month are bullish on the two power financiers and see further gains of 19-20 per cent in the next one year