PFS gains after launching Credit Enhancement Scheme

PTC India Financial Services rose 0.86% to Rs 47.05 at 9:54 IST on BSE after the company announced the introduction of its Credit Enhancement Scheme as part of its efforts to step up lending to quality infrastructure projects in the country.

The announcement was made after market hours yesterday, 5 October 2015.

Meanwhile, the BSE Sensex was up 109.02 points, or 0.41%, to 26,894.57.

On BSE, so far 50,000 shares were traded in the counter, compared with an average volume of 2.52 lakh shares in past two weeks.

The stock hit a high of Rs 47.30 and a low of Rs 46.50 so far during the day. The stock hit a 52-week high of Rs 73.15 on 15 January 2015. The stock hit a 52-week low of Rs 37.10 on 8 September 2015.

PTC India Financial Services (PFS) announced introduction of Credit Enhancement Scheme as part of efforts to step up lending to quality infrastructure projects in the country. As part of the scheme, PFS will offer credit guarantee after detailed appraisal to eligible projects along with other financial institutions for providing partial guarantees for projects and the same shall be backed by adequate security.

PFS' net profit rose 18% to Rs 61.37 crore on 31% growth in total revenue to Rs 226.59 crore in Q1 June 2015 over Q1 June 2014.

PFS is a non-banking financial company (NBFC) promoted by PTC India. PFS has been granted the status of an Infrastructure Finance Company (IFC) by the Reserve Bank of India. The company offers an array of financial products to infrastructure companies in the entire energy value chain. PFS also provides fee based services viz. loan syndication and underwriting etc.

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