PFC climbs as its arm incorporates wholly owned subsidiary
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Power Finance Corporation is currently trading at Rs. 507.30, up by 6.20 points or 1.24% from its previous closing of Rs. 501.10 on the BSE.
The scrip opened at Rs. 503.00 and has touched a high and low of Rs. 516.75 and Rs. 503.00 respectively. So far 222783 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 580.35 on 12-Jul-2024 and a 52 week low of Rs. 351.85 on 20-Mar-2024.
Last one week high and low of the scrip stood at Rs. 516.75 and Rs. 490.00 respectively. The current market cap of the company is Rs. 167727.67 crore.
The promoters holding in the company stood at 55.99%, while Institutions and Non-Institutions held 35.17% and 8.83% respectively.
Power Finance Corporation’s (PFC) wholly owned subsidiary -- PFC Consulting has incorporated Special Purpose Vehicle (SPV) as its wholly owned subsidiary (WOS) namely Raghanesda Re Transmission for Transmission system for evacuation of RE power from Raghanesda area of Gujarat-3 GW under Phase-I.
This SPV will be transferred to the successful bidder after the completion of the bidding process. The successful bidder selected through the bidding process would develop the project.
Earlier, PFC Consulting had been appointed by Ministry of Power (MOP) on August 21, 2024, as Bid Process Coordinator (BPC) for the purpose of selection of Bidder as Transmission Service Provider (TSP) to establish the above-mentioned transmission system through Tariff Based Competitive Bidding Process.
Power Finance Corporation is central PSU under Ministry of Power and India's leading NBFC.
