Power Finance (BOM:532810)

QUOTE AND NEWS
The Economic Times  Sep 2  Comment 
The Power Finance Corporation Ltd (PFC) signed its performance related pact with the Ministry of Power for FY2016-17 on September 1, 2016.
The Hindu Business Line  Aug 20  Comment 
Power Finance Corp (PFC) has got shareholders’ approval for raising up to ₹ 55,000 crore via issue of securities. PFC, one of the leading lenders to the power sector, also got nod for raising its bor...
The Hindu Business Line  Aug 17  Comment 
The outlook for the stock of Power Finance Corporation is bullish. The stock rose 2.4 per cent to close on a stronger note in spite of the indices closing in the red. The stock has been rising over ...
The Hindu Business Line  Aug 17  Comment 
The Economic Times  Aug 16  Comment 
Power Finance Corporation has already committed to an 87 km national highway stretch in Nagpur, and is also in talks with Coal India among other PSUs.
The Economic Times  Aug 16  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 233.0 and a stop loss at Rs 212.0 from entry point
The Economic Times  Aug 10  Comment 
The global investment bank expects PFC growth to remain muted and forecast FY16-19E EPS CAGR of 3.6 per cent
The Economic Times  Aug 9  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 243.0 and a stop loss at Rs 216.0 from entry point
The Hindu Business Line  Aug 1  Comment 
State-run Power Finance Corp (PFC) will seek shareholders’ approval for raising up to Rs 55,000 crore via issuance of securities at the company’s annual general meeting scheduled on August 19, 2016.
The Economic Times  Jul 26  Comment 
Buy Power Finance Corporation Ltd. at a price target of Rs 237.0 and a stop loss at Rs 210.0 from entry point




 

Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company (NBFC) providing fund and non-fund based support for the development of the Indian power sector. PFC commenced its operations in fiscal 1988 as part of the Government of India’s initiative to enhance funding of power projects in India. It initially provided funding to power projects for state electricity boards (SEBs) and power departments. In line with the government’s decision to encourage private sector participation, it began financing power projects in the private sector from fiscal 1997. It has been designated as the nodal agency by the Government of India for the development of seven ultra mega power projects. As of November 30, 2006, the company had incorporated seven wholly owned subsidiary companies to act as special purpose vehicles (SPVs) for these projects. The NBFC was granted ‘Navratna’ status in 2007.


In FY09, PFC reported 25% YoY growth in net interest income on the back of 25% YoY growth in advances. Despite of decline in approvals, disbursements were higher by 30%. The difference in sanctions and disbursements is because PFC is a project driven organization. Net interest margin improved from 3.7% in FY08 to 3.8% in FY09.The quality of PFC's loan portfolio continued to be excellent, with gross non-performing loans at just 0.02% of total loan portfolio.


PFC will continue to maintain its good asset quality position due to its strong credit and project appraisal skills and disciplined risk management practices. Its ability to access long term funding sets it apart from financial institutions in the private sector. Given the investment opportunities in infrastructure segment, particularly power, the growth potential is immense. The softening of interest rates also reduces the likelihood of bad debts.

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