PFC turns volatile amid buzz of likely stake sale by govt

Power Finance Corporation rose 0.98% to Rs 282.80 at 13:03 IST on BSE on reports that the government is likely to sell a 5% stake in the company.

Meanwhile, the S&P BSE Sensex was up 241.33 points or 0.83% at 29,247.35.

On BSE, so far 1.42 lakh shares were traded in the counter as against average daily volume of 2.85 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.66% at the day's high of Rs 287.50 so far during the day. The stock fell as much as 1.6% at the day's low of Rs 275.55 so far during the day. The stock had hit a 52-week high of Rs 344.20 on 10 June 2014. The stock had hit a 52-week low of Rs 129 on 27 January 2014.

The stock had underperformed the market over the past one month till 22 January 2015, declining 7.56% compared with Sensex's 4.71% rise. The scrip had also underperformed the market in past one quarter, advancing 2.71% as against Sensex's 8.28% rise.

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

Government of India (GoI) held 72.8% stake in Power Finance Corporation (as per the shareholding pattern as on 31 December 2014).

Power Finance Corporation's net profit rose 10.6% to Rs 1408.58 crore on 18.2% growth in total income to Rs 6309.05 crore in Q2 September 2014 over Q2 September 2013.

Power Finance Corporation's main business is to provide finance to power sector.

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