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PFC rises on inking MoU with Government of Goa
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Power Finance Corporation is currently trading at Rs. 415.20, up by 2.85 points or 0.69% from its previous closing of Rs. 412.35 on the BSE.
The scrip opened at Rs. 411.05 and has touched a high and low of Rs. 415.40 and Rs. 399.95 respectively. So far 345129 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 477.80 on 08-Feb-2024 and a 52 week low of Rs. 112.00 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 442.80 and Rs. 399.95 respectively. The current market cap of the company is Rs. 136112.70 crore.
The promoters holding in the company stood at 55.99%, while Institutions and Non-Institutions held 35.33% and 8.67% respectively.
Power Finance Corporation (PFC) has signed a Memorandum of Understanding (MoU) to support the climate ambitions of the state of Goa. The support extended would be under the Blended Finance Facility being set up by Government of Goa in partnership with The World Bank. The Government of Goa is setting up the sub-national Blended Finance Facility in partnership with the World Bank, aiming to foster low-carbon, climate-resilient development.
Under the MoU, PFC will utilize innovative blended finance mechanisms to fund key climate projects such as renewable energy, green hydrogen, electric vehicles, waste-to-wealth technology and nature-based solutions, thus contributing to Energy Transition. The Government of Goa will facilitate the successful implementation of the facility by identifying and developing a pipeline of climate projects, and promoting policy decisions and facilitating stakeholder collaboration to take those projects forward. PFC and the Government of Goa will pool resources and expertise, aiming to advance sustainable development. The agreement thus pioneers blended financing facility in India and seeks to attract private sector investment in climate initiatives, thus contributing to India's ambitious net-zero goals.
Power Finance Corporation is central PSU under Ministry of Power and India's leading NBFC.
