1:4 Bonus Share: Maharatna PSU Stock Hits Upper Circuit, New 52-Week High

Shares of large cap state run company, Power Finance Corporation Ltd on Friday hit upper circuit and traded new 52-week high. Power Finance Corporation stock gained 12.15% in trade on September 8 on BSE. Earlier, the board of directors of the PSU maharatna company approved issue of bonus share in the proportion of 1:4 ratio and on September 6, 2023 fixed the record date as September 21, 2023. Check details below:

Power Finance Corporation Sets Record Date For Bonus Issue: As per its August 11 BSE filing, "The Board approved the issue of bonus shares to the shareholders of the company in the ratio of 1:4, i.e, 1 bonus equity share of Rs 10 each fully paid-up for every 4 existing equity shares of Rs 10 each fully paid-up, to the eligible members by capitalizing a sum not exceeding Rs 660 crore." PFC fixed 21.09.2023 as Record date for Bonus Issue, subject to approval of members at the 37th AGM of PFC scheduled to be held on 12.09.2023, added the regulatory filing.

Power Finance Stock Performance & Return Over Years: Last trading price of Power Finance share is Rs 305.10 per share on BSE. The stock's 52-week high price is quoted at Rs 306.75 per share and 52-week low price is quoted at Rs 100.85 per share, respectively. The company has a market capitalisation of Rs 80,548.90 crore. Power Finance stock rallied 19% in just 1-week, gained 55% in last 3-months, soared 81% in last 6-months, and rallied 161% in last 1-year. In last 3-years, Power Finance shares gained 240%. In last 5-years, the stock surged 251%.

Power Finance Financials: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 21,001.44 crore, up 4.62% as compared to its previous quarter total income of Rs 20,074.11 crore. It announced its recent quarter net profit after tax at Rs 5,982.14 crore.

About PFC: 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. PFC is under the administrative control of the Ministry of Power. PFC was conferred the title of a 'Maharatna CPSE' in Oct.,2021, and was classified as an Infrastructure Finance Company by the RBI on 28th July, 2010, according to its official website.

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The stock just highlights the bonus issue 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 any losses. Please consult a professional advisor.