Shares of Power Finance Corporation (PFC) increased by over 1.5% on July 12 after the government appointed Sandeep Kumar as the company’s Director of Finance. Previously, Kumar served as the Executive Director of Finance and Chief Financial Officer (CFO) at PFC since January 1, 2020.
PFC announced in a statement, “The Government of India appointed Sandeep Kumar as Director (Finance) at Power Finance Corporation Limited (PFC), effective July 11, 2024.” Kumar’s career spans over 34 years in the power and financial sectors.
PFC, a ‘Maharatna’ Central Public Sector Enterprise (CPSE) and a non-banking financial company (NBFC) categorized as an Infrastructure Finance Company (IFC) by the Reserve Bank of India (RBI), serves the financing needs of the entire power sector value chain.
As of 10:10 AM, PFC shares were trading 0.77% higher at ₹575.00.
