PFC shares surge over 4% today after ICICI Securities initiates Buy call

Shares of Power Finance Corporation (PFC) surged 4% after ICICI Securities initiated a ‘Buy’ rating on PFC, setting target prices of ₹550. The brokerage highlighted a robust ₹43 lakh crore pipeline for power generation and transmission projects as a key growth driver.

With company commanding a 20% market share in India’s power financing sector, PFC is well-positioned to capitalize on rising energy demands and the transition to renewable energy. ICICI Securities also pointed to their strong asset quality and government-backed initiatives to improve discoms’ financial health as additional catalysts.

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PFC shares opened at ₹395.45 today, reaching a high of ₹406.65 and a low of ₹393.60 during the session. The stock remains significantly below its 52-week high of ₹580.00 but above its 52-week low of ₹351.70. As of 9:23 AM, the shares were trading 4.08% higher at Rs 405.20.

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