PFC Share Price: Power Finance Corporation (PFC) shares today became rockets on the December quarter outfit and more than 4 per cent jumped in intra-day. The global brokerage firm McWery again gave it outperform rating, which gave support to the shares. Currently, it is at a price of Rs 388.50 with a decline of 4.07 per cent on BSE. It had jumped 4.61 per cent to Rs 390.50 in intra-day. Along with the results, PFC has announced an interim dividend of Rs 3.50 per share, whose record date has been fixed 28 February. It has also positive atmosphere regarding shares. This dividend will be credited to shareholders’ account by 3 March 2025.
What is the trend of brokerage on PFC
The December quarter was excellent for PFC in terms of margin, credit cost and asset quality. However, the growth was less than expected due to the softening of the disbursement and high repayment. The asset quality remained at 2.68 per cent at 2.71 per cent in the September quarter. Global brokerage firm McCery has given it an outpar rating again due to the price-to-book value of FY 2027, which is very cheaper than the price-to-book value of FY 2027, citing better growth than the previous bicycle. McWery has fixed the target of investment of Rs 660 in it. At the same time, MK Global has rated it at a target price of ₹ 5500-₹ 600.
Due to Higher Net Interest Margin and Forex Gain, its profit was more than expected and growth was weaker than expected. McWery says that it is difficult to achieve the target of 14 per cent growth by the company for FY 2025. Brokerage also estimates that its credit cost can remain negative in the Near Term due to the right-back of stressed assets like KSK Mahanadi. KSK Mahanadi owes ₹ 32,243 crore, out of which ₹ 29,400 crore belongs to financial creditors. According to the NCLT order, on November 11 last year, KSK revealed that it has distributed ₹ 6,241 crore, which led to its outstanding balance to ₹ 26,001 crore. The highest exposure of PFC is currently on KSK Mahanadi, which is ₹ 3,428 crore.
How was the move of shares in a year
PFC shares gave a return of about 65 per cent quickly in four months last year. Last year, on March 20, 2024, it was at Rs 351.85, which is a one year low for its shares. In four months from this lower level, it reached Rs 580.35 on 12 July 2024, which is a record high for its shares. However, the shares stopped here and currently it is about 33 per cent downside from this record high.
Voda Idea Share Price: Dot asked for a bank guarantee of ₹ 6090 crore, yet due to this, the stocks gained 4%
Disclaimer: Advice or idea experts/brokerage firms on Moneycontrol.com have their own personal views. The website or management is not responsible for this. Moneycontrol advises to users that always seek the advice of certified experts before taking any investment decision.