PFC inches up after incorporation of four SPVs

The company made the announcement after trading hours on Wednesday, 2 January 2013.

Meanwhile, the BSE Sensex was up 10.40 points or 0.05% at 19,724.64.

On BSE, 4,941 shares were traded in the counter as against average daily volume of 2.49 lakh shares in the past one quarter.

The stock hit a high of Rs 208.80 and a low of Rs 207.65 so far during the day. The stock had hit a 52-week high of Rs 223.80 on 17 February 2012. The stock had hit a 52-week low of Rs 135 on 3 January 2012.

The stock had outperformed the market over the past one month till 2 January 2013, surging 7.61% compared with the Sensex's 1.94% rise. The scrip had also outperformed the market in past one quarter, jumping 10.22% as against Sensex's 4.73% gain.

The large-cap company has equity capital of Rs 1320.01 crore. Face value per share is Rs 10.

Power Finance Corporation (PFC) after trading hours on Wednesday, 2 January 2013, said a total of four special purpose vehicles (SPVs) have been incorporated as wholly owned subsidiaries by PFC Consulting for the development of transmission systems in the country. PFC Consulting is a wholly owned subsidiary of Power Finance Corporation.

PFC's net profit jumped 147.2% to Rs 1036.49 crore on 33.3% growth in total income to Rs 4191.16 crore in Q2 September 2012 over Q2 September 2011.

Power Finance Corporation (PFC) was incorporated with an objective to provide financial resources and encourage flow of investments to the power and associated sectors. The Government of India (GoI) holds 73.72% stake in PFC (as per the shareholding pattern as on 30 September 2012).

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