PFC stock trim gains, decline nearly 4% from 52-week high

In early trade, the PFC stock rose as much as 1.6% to hit a fresh 52-week high of ₹580 apiece on the NSE. However, the stock pared early gains and plunged up to 4% to an intraday low of ₹548.05 apiece. In the afternoon trade, the stock recovered some of the losses to trade at ₹556 apiece, down 2.56%, at around 3:10 pm.

The stock has gained 4.49% in the past five sessions. The power sector financing company’s shares have tripled in value in the past year, rising over 207%. Year-to-date, the stock is up over 46%.

On Thursday, July 10, the power sector financial services provider announced the appointment of Sandeep Kumar as Director (Finance). Kumar had previously been the Executive Director (Finance) at PFC since January 1, 2020. In a filing, the company informed the stock exchanges that he was also the chief financial officer (CFO).

Established in 1986, PFC is a non-banking financial company (NBFC) that provides financial assistance to India’s power sector. It is ‘Maharatna’ company and comes under the ambit of the Union Ministry of Power.

According to the government, the PFC Group is India’s highest-profit-making NBFC, both consolidated and standalone.

PFC registered a 24% increase in its standalone profit after tax (PAT) in FY 2023-24 at ₹14,367 crore. At a consolidated level, PAT jumped 25% to ₹26,461 crore during the year.

The company also continues to be the largest renewable energy lender in India, with its renewable segment loan book growing 25% year over year to ₹60,208 crore.