1:4 Bonus Share: Multibagger PSU Stock Soars After Inking Rs 25,000 Cr MoU With Guj Govt

Large cap state-run company Power Finance Corporation Ltd shares soared 3.04% in trade on January 4, 2023 after it signed an Memorandum of Understanding (MoU) with Gujarat Government on January 3, 2024 in Gandhinagar. Power Finance Corporation shares gained 129% in last 6-months only and soared 227% in last 1-year span. Last trading price of Power Finance Corporation Ltd share BSE is Rs405.00 apiece. Check details below:

PFC Inks MoU With Gujarat Government: The agreement has been inked in Gandhinagar and seeks to emphasise on offering strong financial assistance, worth Rs 25,000 crore, for the state's ambitious generation, transmission, and distribution projects.

"Under the terms of the MoU, the envisaged financial assistance stands at an impressive Rs 25,000 crore, dedicated to powering up various projects across Gujarat," according to the Ministry of Power.

"Apart from facilitating the expansion of power infrastructure, the MoU shall inter-alia also help creating employment generation to the tune of 10,000 in the state of Gujarat," the ministry added.

Power Finance Corporation Stock Performance & Return: Last trading price of Power Finance Corporation share on BSE is Rs 405.00 per share with intraday gain of 3.04%. The 52-week high price of Power Finance Corporation share on BSE is Rs 428.00 per share and 52-week low price is Rs 106.44 per share, respectively. Power Finance Corporation has a market capitalisation of Rs 1,33,654.63 crore.

PFC Dividend: Earlier last year, Board of Power Finance Corporation approved an interim dividend of Rs 4.5 per equity share on the face value of Rs 10/- each for the financial year 2023-24. The date of payment of aforementioned interim dividend is December 8,2023. The company fixed record date for interim dividend as November 27, 2023.

Power Finance Corp Traded Ex-Bonus: Power Finance Corporation shares traded ex-bonus on September 21, 2023. Earlier it issued its regulatory filing stating, "This is to inform that in terms of Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015, the Company has fixed Thursday, the 21st day of September 2023 as the Record Date for the following purpose, subject to the approval of Members at the ensuing 37th Annual General Meeting of the Company scheduled to be held on September 12, 2023."

Power Finance Corporation Quarterly Results: The state-run company on November 9 announced a jump of 27% in it consolidated net profit to Rs 6628.17 crore for the July-September period as against Rs 5,229.33 crore declared in the corresponding period of last year, stated the BSE filing. The company's total income jumped 22,403.69 crore for the quarter under consideration from Rs 19,344.39 crore in the similar period of last year.

Power Finance About: Incorporated on July 16th, 1986, Power Finance Corporation Ltd. is a Schedule-A Maharatna CPSE, and is a leading Non-Banking Financial Corporation in the Country. PFC's registered office is located at New Delhi and regional offices are located at Mumbai and Chennai, according to its official website.

Disclaimer:

The stock just highlights the rally in shares after MoU with Gujarat Govt and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.