PFC spurts about 8% in two sessions

Power Finance Corporation rose 4.20% to Rs 202.30 at 12:42 IST on BSE, extending Friday's 3.55% rise triggered by the company's plan to issue of bonus shares to shareholders.

Meanwhile, the BSE Sensex was up 487.66 points, or 1.80%, to 27,614.56.

On BSE, so far 6.24 lakh shares were traded in the counter, compared with average daily volume of 1.78 lakh shares in the past one quarter. The stock hit a high of Rs 203.50 and a low of Rs 195.70 so far during the day. The stock hit a 52-week high of Rs 270.60 on 21 July 2015. The stock hit a 52-week low of Rs 140.40 on 17 February 2016. The stock had outperformed the market over the past 30 days till 8 July 2016, rising 17.70% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.33% as against Sensex's 9.94% rise.

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

Power Finance Corporation (PFC) announced during trading hours on Friday, 8 July 2016, that its board will meet on 14 July 2016 to consider issue of bonus shares.

Shares of PFC rose 3.55% to Rs 194.15 on Friday, 8 July 2016. The stock has risen 7.89% in two sessions from its close of Rs 187.50 on 7 July 2016.

PFC's net profit declined 19.29% 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 PFC's 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).

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