Sensex 29448.95 68.22 0.23%
Nifty 8937.75 15.1 0.17%
CMP Rs235, TargetPrice Rs299, Upside 27.3%
Power Finance Corporation (PFC) with prominent market share (20%+) in power financing business is expected to be the key beneficiary of the hefty capex plan as articulated in the XIth Five Year Plan. The company has witnessed robust 32% CAGR in sanctions over FY05-FY09. With an improving investment appetite, we expect PFC to capitalise on the growth opportunity. Predominant exposure towards generation segment, increasing proportion of disbursement towards private sector and near zero levels of NPA would drive a sturdy 21% CAGR in balance sheet and 22% CAGR in loan book over FY09-11E. Recommend BUY.
India Infoline News Service / 08:51, Feb 27, 2015
The outlook is a positive start .The unwinding of positions and rollover in the F&O expiry brought in the usual volatility on Thursday.