Todays Market Nifty 8565.00 (+45.50) (+0.53%)

Sensex 27942.11 (+126.93) (+0.46%)

Power Finance Corp jumps after boards nod for bonus issue

The announcement was made during market hours today, 14 July 2016.

Meanwhile, the S&P BSE Sensex was up 131.24 points or 0.47% at 27,946.42.

The stock surged on heavy volumes. On BSE, so far 11.99 lakh shares were traded in the counter as against average daily volume of 1.98 lakh shares in the past one quarter. The stock hit a high of Rs 212.90 and a low of Rs 200.15 so far during the day. The stock had hit a 52-week high of Rs 270.60 on 21 July 2015. The stock had hit a 52-week low of Rs 140.40 on 17 February 2016. The stock had outperformed the market over the past one month till 13 July 2016, surging 25.26% compared with 5.37% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 16.97% as against Sensexs 8.54% rise.

The large-cap company has equity capital of Rs 1320.04 crore. Face value per share is Rs 10.

Power Finance Corporations (PFC) net profit declined 19.3% to Rs 1259.65 crore on 5.7% growth in total income to Rs 6786.99 crore in Q4 March 2016 over Q4 March 2015.

State-run PFCs main business is to provide finance to the power sector. Government of India (GoI) currently holds 67.8% stake in PFC (as per the shareholding pattern as on 31 March 2016).