Maharatna Company Inks MoU Worth Rs 2.37 Lakh Cr With 20 Firms, Stock Hits New 52-Week High

Maharatna status company, Power Finance Corporation shares gained 5.70% intraday on BSE to close at Rs 240.05 per share. Power Finance Corporation stock soared as the company executed several Memorandum of Understanding (MoU) of over Rs 2.37 lakh crore with 20 public and private sector companies. Power Finance shares rallied 7% in last 1-week and jumped 49% in last 3-months only. PFC shares offered return of 115% in last 1-year.

Power Finance Corporation Signs MoU With 20 Companies: As per the BSE filing of the company dated July 22, 2023, "Pursuant to Regulation 30 ofthe SEBl (Listing Obligations and DisclosureRequirements), Regulations, 2015 (the "Regulations"), please find attached a press release dated 21st July, 2023 regarding signing of MoU worth Rs 2.37 Lakh Crore with 20 Companies in Clean Energy Space."

PFC has signed MoU with Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure, and Rajasthan Renewable Energy, among others.

Power Finance Corporation Stock Performance & Return: Last trading price of PFC share is Rs 240.05 per share with intraday gain of 5.70%. Its 52-week high price is Rs 244.00 per share and 52-week low price is Rs 100.85 per share, respectively. It has a market capitalisation of Rs 63,375.17 crore. PFC stock jumped 61% in last 6-months, 87% in last 2-years, gave return of 190% in last 3-years, and 212% return in last 5-years.

Power Finance Corporation Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 20,074.11 crore, up 2.09% from preceding quarter total income of Rs 19, 662.65 crore. It announced its net profit after tax at Rs 6128.63 crore in recent quarter.

PFC 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 company signed MoU with 20 firms and shares hit new 52-week high. Greynium Information Technologies and the author 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.