1:4 Bonus Share: Top PSU Stock Soars 9% After Fixing Record Date For Bonus Issue

Shares of public sector undertaking under the ownership of Power Ministry, Power Finance Corporation (PFC) gained 9% ever since the company fixed record date for 1:4 bonus issue. Current market price of Power Finance share is Rs 279.75 apiece with intraday fall of 1.13% on BSE. The record date for 1:4 bonus issue is September 21, 2023. Power Finance stock soared 72% in last 6-months only and offered 143% return in last 1-year. Check details below:

Power Finance Sets Record Date For 1:4 Bonus Issue: According to the BSE filing of Power Finance dated September 6, 2023, "This is to inform that in tenns 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 Stock Performance & Return: Current market price of Power Finance stock is Rs 279.75 per share. The stock soared 9% since September 6, 2023 when it fixed record date for bonus issue. The stock was priced Rs 257.50 apiece on September 6 and today's price is Rs 279.75, up 8.64%. The stock's 52-week high price is Rs 313.90 per share and 52-week low price is Rs 100.85 apiece, respectively. The company has a market capitalisation is Rs 73,856.29 crore.

Power Finance shares soared 143% in last 1-year, gained 102% in last 2-years, soared 204% in last 3-years, and 241% in last 5-years. In last 10-years, Power Finance shares rallied 329%.

Power Finance Financials: The state-run company in Q1 FY 2024 announced a 31% YoY surge in its consolidated net profit to Rs 5,892 crore. Its consolidated total income soared 13% Y-o-Y to Rs 20,993 crore during the June quarter in the current financial year.
"Another remarkable and profitable quarter for Power Finance Corporation's investors. Investors rewarded with bonus share Issue of 1:4. This reinforces company's commitment to deliver sustained long-term returns," said Power Finance.

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.

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The stock just highlights the bonus issue 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.