After 1:4 Bonus Issue Rs 3/Share Dividend Declared, Buy Multibagger PSU For TP Rs 550: CLSA

Brokerage firm CLSA has upgraded target price of Power Finance Corporation Ltd (PFC) shares to Rs 550 apiece from Rs 490 per share. Current market price of Power Finance Corporation shares on BSE is Rs 429.20 apiece. If you buy PFC shares now at current market price of Rs 429.20 apiece, you can fetch potential gain of 28.15%. Board of Directors of Power Finance Corporation on March 11, 2023 recommended third interim dividend of Rs 3.00 per share for the financial year 2023-24. Power Finance Corporation shares zoomed 221% in last 1-year and gained 90% in last 6-months. Check details below:

Power Finance Corporation Announces Interim Dividend: According to the BSE filing of the PSU dated March 11, 2024, "Board of Directors of Power Finance Corporation Ltd. in its meeting held today i.e. 11.03.2024 have inter alia considered and approved as follows:

Declaration of third interim dividend @Rs 3.00 (Rupee Three Only) per equity share (subject to deduction of TDS) on the face value of the paid-up equity of Rs 10/- each for the FY 2023-24. Further, it is to inform that 22nd March, 2024(Friday) shall be reckoned as the Record Date for the purpose of ascertaining the eligibility of shareholders for payment of third interim dividend for the FY 2023-24."

Power Finance Corporation Shares Performance & Return: The 52-week high price of Power Finance Corporation shares on BSE is Rs 477.80 apiece and 52-week low price is Rs 116.40 apiece, respectively. The company has a market capitalisation of Rs 1,41,574.37 crore. Power Finance Corporation has a PE of 19.73, EPS (TTM) of 21.74, and ROE of 15.00. Power Finance Corporation stock gained 10% in last 3-months, rallied 377% in last 2-years, and rose 289% in last 3-years. In last 5-years, Power Finance Corporation shares zoomed 384%.

PFC Q3 Results: Large cap state-run PFC declared a surge of 23% year-on-year (YoY) in its consolidated net profit to Rs 4,727.4 crore for the October-December quarter as against Rs 3,860.25 crore in the corresponding quarter of last year. The company stated its revenue surged 20% YoY to Rs 23,571.8 crore as against Rs 19,639 crore in the similar quarter 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 has been picked from the brokerage report of CLSA. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.