Page 6 - Pfc
Power Finance Corp reports record standalone profit of Rs 6,953 cr for FY19
Speaking on the proposed merger of Rural Electrification Corporation (REC) with the company, PFC's CMD Rajeev Sharma said that due diligence was underway
 "Power Finance Corp reports record standalone profit of Rs 6,953 cr for FY19")
PFC concludes REC acquisition with internal accruals, term loans
Quashing concerns regarding its financial strength post the acquisition, PFC executives said the company had 19 per cent capital adequacy in Q3FY19
PFC completes REC acquisition, pays Rs 14,500 cr to government
PFC bought REC shares at Rs 139.50 per piece with total acquisition cost of about Rs 14,500 crore.
PFC acquires govt stake in REC for Rs 14,500 crore
Board approved the acquisition at a cash purchase consideration of Rs 139.50 per share
 "PFC acquires govt stake in REC for Rs 14,500 crore")
RBSA Advisors valuation advisor for govt's stake sale in rural power firm
PFC may not be required to make an open offer to minority shareholders of REC after buying out the govt stake in the company as it is a related party transaction, said RBSA
 "RBSA Advisors valuation advisor for govt's stake sale in rural power firm")
PFC not to make open offer to REC's minority shareholders after acquisition
Based on the market price of REC on Dec 6, the govt stake in the company would be valued at around Rs 105 bn
 "PFC not to make open offer to REC's minority shareholders after acquisition")
S&P revises outlook on PFC to negative, flags concern on capital level
The company has an extremely high likelihood of timely and sufficient extraordinary support in the event of financial distress
PFC-REC merger likely to weigh on near-term financial performance
Additional market borrowing to raise funding cost
 "PFC-REC merger likely to weigh on near-term financial performance")
PFC aims for Rs 8 billion provision write-back from govt projects
Loans worth Rs 219.63 billion were upgraded to the standard category as they achieved the date of commencement of commercial operations
 "PFC aims for Rs 8 billion provision write-back from govt projects")
PFC, REC may be valued upwards
Both have managed to hold up their NIMs at 4.8-4.9% so far in FY17, and could again reach 6% in FY18
 "PFC, REC may be valued upwards")
PFC Q1 net up 9% at Rs 1,713 crore
Standalone income from operations during the quarter was at Rs 7,105.60 crore
 "PFC Q1 net up 9% at Rs 1,713 crore")
UDAY an unlikely hero in PFC, REC rally
Financial aid to SEBs under the scheme helps in substantial loan prepayment; lower cost of funds to aid profit margins
 "UDAY an unlikely hero in PFC, REC rally")