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Power Finance advances after raising funds from international market

Capital Market 

Corporation gained 1.22% to Rs 120.70 at 10:40 on after the company said that it has successfully closed the deal for issuance of $400 million green senior unsecured notes offering.

The announcement was made after market hours yesterday, 7 December 2017.

Meanwhile, the S&P Sensex was up 225.21 points or 0.68% at 33,173.46.

On the BSE, 91,832 shares were traded in the counter so far as against average daily volume of 5.15 lakh shares in the past one quarter. The stock had hit a high of Rs 120.90 and a low of Rs 120 so far during the day. The stock had hit a 52-week high of Rs 169 on 11 April 2017. The stock had hit a 52-week low of Rs 113.10 on 27 December 2016.

The stock had underperformed the market over the past one month till 7 December 2017, falling 12.57% compared with the Sensex's 1.26% drop. The stock had also underperformed the market over the past one quarter, dropping 3.48% as against the Sensex's 4.06% rise. The scrip had also underperformed the market over the past one year, declining 7.63% as against the Sensex's 25.58% rise.

The large-cap company has equity capital of Rs 2640.08 crore. Face value per share is Rs 10.

Corporation (PFC) said that the company has successfully closed the deal for issuance of $400 million green senior unsecured notes offering at a fixed rate coupon of 3.75% from the international debt capital markets under Regulation S of the US Securities Act of 1933 (as amended) on 6 December 2017 and completed the formalities for listing at Singapore Exchange (SGX-ST) and international securities market segment of the London stock exchange.

PFC's net profit rose 0.7% to Rs 1886.59 crore on 1.6% rise in total income to Rs 7108.57 crore in Q2 September 2017 over Q2 September 2016.

State-run PFC's main business is to provide to the power sector. Government of India (GoI) holds 66.35% stake in PFC (as per the shareholding pattern as on 30 September 2017).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 08 2017. 10:45 IST
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