PFS slips to 52-week low

PTC India Financial Services tumbled 4.36% to Rs 10.30 at 13:06 IST on BSE as the stock turned ex-dividend today, 7 August 2013, for dividend of 40 paise per share for the year ended 31 March 2013.

Meanwhile, the S&P BSE Sensex was down 24.13 points or 0.13% at 18,708.91.

On BSE, 90,000 shares were traded in the counter as against average daily volume of 83,564 shares in the past one quarter.

The stock hit a low of Rs 10.15 so far during the day, which is also its 52-week low for the counter. The stock hit a high of Rs 10.60 so far during the day. The stock had hit a 52-week high of Rs 20.28 on 27 November 2012.

The stock had underperformed the market over the past one month till 6 August 2013, sliding 19.87% compared with the Sensex's 3.91% fall. The scrip had also underperformed the market in past one quarter, declining 22.46% as against Sensex's 4.78% fall.

The small-cap company has equity capital of Rs 562.08 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 3.71% based on the closing price of Rs 10.77 on Tuesday, 6 August 2013.

PTC India Financial Services' (PFS) net profit rose 6.6% to Rs 24.46 crore on 43% growth in total income to Rs 86.22 crore in Q1 June 2013 over Q1 June 2012.

PFS is promoted by PTC India as a special purpose investment vehicle to provide total financial services to the entities in energy value chain, which inter-alia includes investing in equity and/or extending debt to power projects in generation, transmission, distribution; fuel sources, fuel related infrastructure like gas pipelines, LNG terminals, ports, equipment manufacturers and EPC contractors etc. PFS also provides non-fund based financial services adding value to green field and brown field projects at various stages of growth and development.

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