Power Finance Corporation Ltd. (PFC), a central Public Sector Undertaking (PSU) under the Ministry of Power, witnessed a significant decline in its share price, resulting in a market capitalization loss of approximately ₹4,448 crore. The company’s stock fell by 3.15% in trading, closing at ₹428.45, down from its previous close of ₹442.40. This marks a continued downward trend for PFC over the past few trading sessions.
Share Price Movement
On October 23, 2024, PFC’s shares dropped by ₹13.95, representing a 3.15% decline. The stock has experienced fluctuating performance over the last week, with multiple instances of price drops. Below is a summary of PFC’s recent share price movements:
| Day | Open Price | Close Price | Day’s Change |
|---|---|---|---|
| Tue, Oct 22, 2024 | ₹462.00 | ₹442.40 | -4.64% |
| Mon, Oct 21, 2024 | ₹473.50 | ₹463.95 | -1.85% |
| Fri, Oct 18, 2024 | ₹468.80 | ₹472.70 | +0.69% |
| Thu, Oct 17, 2024 | ₹480.00 | ₹469.45 | -2.03% |
| Wed, Oct 16, 2024 | ₹476.90 | ₹479.20 | +0.51% |
| Tue, Oct 15, 2024 | ₹478.00 | ₹476.75 | +0.67% |
| Mon, Oct 14, 2024 | ₹469.95 | ₹473.60 | +1.23% |
| Fri, Oct 11, 2024 | ₹469.60 | ₹467.85 | -0.87% |
Power Finance Corporation: A Brief Overview
PFC, founded in 1986, is primarily engaged in providing financial products and services to the power sector. The PSU was established with the objective of financing large-scale power projects and contributing to the development of power and related industries. Over the years, PFC has played a crucial role in supporting India’s power infrastructure.
On July 28, 2010, PFC was designated as an Infrastructure Finance Company by the Reserve Bank of India (RBI). As of September 30, 2023, the Central government held a 56% stake in the company, underscoring its importance in India’s public sector landscape.
Recent Financial Performance
While the share price has shown some volatility, PFC continues to focus on its role in power financing. Despite the market cap loss of ₹4,448 crore, PFC remains a key player in the financial sector. Its long-term performance will likely depend on factors such as interest rates, demand for energy infrastructure, and government policies related to the power sector.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
