iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

PFC Stocks Dip as Subsidiaries Transferred to Power Grid

28 Sept 2023 , 12:40 PM

Power Finance Corporation (PFC) saw a more than 2 % decline in its stock price on September 28 after transferring its subsidiaries, Ananthpuram Kurnool Transmission Limited and Bhadla III Transmission Limited, to Power Grid Corporation of India.

In contrast, Power Grid Corporation's stock gained 0.8 %. Ananthpuram Kurnool Transmission Limited was set up to develop a transmission scheme associated with solar energy zones in Ananthpuram (Ananthapur) (2500 MW) and Kurnool (1000 MW), Andhra Pradesh.

Bhadla III Transmission Limited was established to develop the transmission system for evacuating power from the Renewable Energy Zone (REZ) in Rajasthan (20 GW) under Phase III-Part B1. On September 27, PFC's stock rose nearly 6 % following the announcement of an MoU with PNB for infrastructure and power project development.

For the quarter ending June 2023, PFC, a state-owned NBFC, reported a 30.6 % year-on-year increase in net profit to Rs 5,982.14 crore. The net NPA dropped to its lowest level at 1 %, down from 1.57 % in Q1 FY23, and gross NPAs decreased by 148 basis points from 5.02 % in Q1 FY23.

For feedback and suggestions, write to us at editorial@iifl.com


Related Tags

  • news
  • PFC
  • Power Grid
  • stocks
sidebar mobile


Read More

Most Read News

Indian markets end the day on high
23 May 2024|03:59 PM
Markets surge

Markets surge

23 May 2024|03:45 PM
MG Motor India to supply 3000 EVs to Vertelo
23 May 2024|03:46 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.