In the last one year, PFC share price has zoomed 217 percent, doubling investors' money.
Shares of the Power Finance Corporation (PFC) gained over 1.5 percent on July 12, a day after the government appointed Sandeep Kumar as Director (Finance) of the company.
Before this appointment, he was the Executive Director (Finance) at PFC since January 1, 2020, and held the position of Chief Financial Officer (CFO), PFC said in a statement.
Story continues below Advertisement Remove Ad”The Government of India appointed Sandeep Kumar as Director (Finance) at Power Finance Corporation Limited (PFC), effective 11 July 2024,” PFC informed in a regulatory filing, adding that Sandeep Kumar has a distinguished career spanning over 34 years in the power and financial sectors.
In the last one year, PFC share price has zoomed 217 percent, doubling investors' money.
In the last one year, PFC share price has zoomed 217 percent, doubling investors' money. In comparison, benchmark Nifty rose around 26 percent during this period.
Shares of the Power Finance Corporation (PFC) gained over 1.5 percent on July 12, a day after the government appointed Sandeep Kumar as Director (Finance) of the company.
Before this appointment, he was the Executive Director (Finance) at PFC since January 1, 2020, and held the position of Chief Financial Officer (CFO), PFC said in a statement.
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”The Government of India appointed Sandeep Kumar as Director (Finance) at Power Finance Corporation Limited (PFC), effective 11 July 2024,” PFC informed in a regulatory filing, adding that Sandeep Kumar has a distinguished career spanning over 34 years in the power and financial sectors.
PFC is a 'Maharatna' Central Public Sector Enterprise (CPSE), a non-banking financial company (NBFC) categorized as an Infrastructure Finance Company (IFC) with the Reserve Bank of India (RBI) and it is servicing the financing needs of entire power sector value chain.
IREDA was up for the fifth consecutive session. So far this year, the PSU stock has risen over 46 percent.
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Recently, global brokerage firm Bernstein initiated coverage on PFC with an 'Outperform' rating. Bernstein referred to this stock along with RED as its most preferred plays in India's power cycle. The brokerage assigned a price target of Rs 620 on PFC.
Both REC and PFC, forgotten by investors for over a decade, now have a market capitalisation ranging between $15 billion to $20 billion and are witnessing volumes of nearly $125 million. Yet, both these stocks trade between 8 times to 10 times trailing price-to-earnings, Bernstein wrote in its note.
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It added that there are three kinds of investors in this world - those who love both REC and PFC, those who wonder why they even exist and the third being those who have never heard of these stocks.
In the last one year, PFC share price has zoomed 217 percent, doubling investors' money. In comparison, benchmark Nifty rose around 26 percent during this period. REC has outperformed by rallying over 283 percent in the last 12 months.
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