PFC shares drop over 5% amid higher selling volumes

Power Finance Corporation Ltd. (PFC) saw its shares fall by over 5% in Monday’s trading session due to increased selling pressure. By 11:55 AM, the shares were trading 4.95% lower at ₹518.30 on the NSE.

PFC, a central Public Sector Undertaking under the Ministry of Power, has been financing large-scale power projects since its inception in 1986. It was designated as an Infrastructure Finance Company by the Reserve Bank of India in 2010. As of September 2023, the central government holds a 56% stake in the company.

PFC has experienced significant growth, with its share price increasing nearly 320% in the last three years. Despite today’s drop, the company remains strong, boasting a market capitalization of ₹1,34,000 crore as of January 2024.

This price decline follows a series of fluctuations in PFC’s stock, with Friday, September 6, seeing a 2.32% drop, closing at ₹545.30.