PTC India Financial sanctions additional loans of Rs 974 cr

PTC India Financial Services (PFS) has sanctioned additional loans worth Rs 974 crore to diversified projects related to projects of different sustainable sectors viz solar, transmission and to state power utilities.

PFS said it is expecting further business (disbursements) against these sanctions in couple of months and accordingly PFS loan book is expected to be increased by the additional disbursements. The announcement was made during market hours today, 15 March 2021.

On the technical front, the stock's RSI (relative strength index) stood at 55.565. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 19.57 and its 200-day moving average (DMA) placed at 17.60.

Shares of PFS rose 0.72% to Rs 20.90 on BSE. PFS is a non-banking finance company 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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