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The Economic Times

Discussions on how to protect domestic steel industry going on: Union Minister

The steel ministry is discussing with the finance ministry to implement policy measures to curb rising steel imports, including a minimum import price. Efforts are also being made to strengthen the domestic alloy industry, which faces challenges like high power tariffs and inadequate raw materials. The minister aims to revive Rashtriya Ispat Nigam Limited.

Business Standard

PFC pays Rs 462 cr final dividend for 2023-24 to govt; BHEL pays Rs 55 cr

State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it has paid a final dividend of Rs 55 crore for 2023-24 to the government. To this effect, a cheque towards the final dividend on the equity (63.17 per cent) held by the Government of India, was presented to H. D. Kumaraswamy, Union Minister of Heavy Industries and Steel by K Sadashiv Murthy, Chairman and Managing Director, BHEL, a company statement said. The total dividend paid to the company's shareholders for 2023-24 amounted to over Rs 87 crore.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

KDDL Ltd, Home First Finance Co, Edelweiss Financial, Servotech Power Syst and Repco Home Fin, hit their fresh 52-week highs at 10:44AM.

The Economic Times

Draft norms issued for finance mechanism under PM Surya Ghar scheme

The Ministry of New and Renewable Energy has released draft norms for central financial assistance and payment security under the RESCO model and utility-led demand aggregation model for rooftop solar schemes. Consumers will pay only for the electricity generated, with ownership transferring to them after five years or through a power purchase agreement.

CNBC TV18

REC, PFC lead losses on the Nifty PSE index; What should investors do?

On the charts, the Relative Strength Index (RSI) of both REC and PFC stands at 47 and 44 respectively.

The Economic Times

What's next for HUL and PFC stock? Deepak Shenoy weighs in

​​Nowhere else is Unilever valued at that much. So, no buyer will actually want to pay the Indian level of valuations for that business. So, I do not think that will fly. So, they will have to demerge it. So that may produce some kind of value unlocking if there is some capital freed up or something that changes.

The Economic Times

Aadhar Housing Finance among 7 stocks on which brokerages initiated coverage, expected to rally up to 40%

Brokerages have started coverage on several stocks, including Aadhar Housing Finance, Chalet Hotels, Godawari Power & Ispat, and Praveg, predicting up to 40% upside potential.

Mint

PFC, Wipro and Welspun Living: StoxBox’s top 3 investment picks for high returns

StoxBox highlights three investment picks—Power Finance Corporation, Wipro, and Welspun Living—that offer strong potential for returns, backed by solid fundamentals and technical setups.

The Economic Times

Govt gets Rs 2,413 cr dividend from BPCL

The government has received Rs 2,413 crore in dividends from BPCL, adding to the Rs 15,389.14 crore received this fiscal year from CPSEs, including Indian Oil Corp, ECIL, Power Finance Corp, and TCIL. With a target of Rs 56,260 crore, the government aims to increase collections from public sector enterprises compared to the previous fiscal.

Business Standard

Power Grid acquires Bhadla-III & Bikaner-III Transmission under TBCB route

Power Grid Corporation of India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 30 August 2024 acquired Bhadla-III & Bikaner-III Transmission, the Project SPV to establish Transmission System Strengthening for interconnections of Bhadla-III & Bikaner-III Complex, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator PFC Consulting.

The Economic Times

Finance Ministry adds four new navratnas

Finance minister Nirmala Sitharaman has given the navratna status to four more state-owned public enterprises - Satluj Jal Vidyut Nigam Ltd, Solar Energy Corporation of India Ltd, Railtel Corporation of India Ltd and National Hydroelectric Power Corporation Ltd.

Mint

Stocks in focus: Rajesh Palviya of Axis Securities recommends PNB Housing Finance, PFC, and Tata Motors today

Stocks in focus: Rajesh Palviya has recommended to buy, hold, and accumulate PNB Housing Finance Ltd, Power Finance Corporation Ltd (PFC), and Tata Motors Ltd.

Business Line

Stock to buy today: Power Finance Corporation (₹554.40): BUY

Power Finance Corporation share price can rise to ₹600-₹610

The Economic Times

Market Trading Guide: PFC, IndusInd Bank among 5 stock recommendations for Friday

Indian benchmark equity indices hit new record highs on Thursday, driven by gains in RIL, financial, and IT stocks. Analysts see Nifty’s short-term uptrend positive, with potential upside targets around 25,360-25,400.

CNBC TV18

Buy PFC and REC, says UBS but prefers the parent over its subsidiary

UBS believes REC and PFC's growth drivers and trajectory will be similar, with REC growing slightly ahead of PFC. REC is trading at a nearly 35% premium to the PFC standalone multiple versus 25% historically.

Mint

PFC, REC shares gain after UBS initiates ‘Buy’ on these dividend stocks

PFC share price has given stellar returns as it has grown over 42% year-to-date (YTD). PFC shares have turned multibagger as the stock is up more than 151% in the past twelve months and over 438% in three years.

The Economic Times

F&O Stock Strategy: How to trade PFC and Bajaj Finserv

Nifty and Sensex recorded minor gains on Tuesday. Analyst Sudeep Shah recommends investing in Power Finance Corporation Ltd and Bajaj Finserv Ltd due to strong technical and derivative indicators, predicting short-term gains for both stocks.

The Economic Times

Reliance Home Finance, Reliance Power skid 5% to hit lower circuit after Sebi ban on Anil Ambani

Stocks of Anil Ambani's companies, such as Reliance Home Finance and Reliance Power, plummeted as Sebi banned Ambani and others for fund diversion. Heavy penalties were also levied, leading to significant losses in their stock prices. Sebi's investigation revealed fraudulent activities, worsening the financial outlook of these firms.

Business Line

Reliance ADAG companies stocks tumble following SEBI ban on Anil Ambani

Reliance Power saw the steepest fall, dropping 4.99%; Reliance Home Finance fell 4.93%, Reliance Communications slid 4.92%, Reliance Naval and Engineering declined 4.62 and Reliance Capital fell 4.46%

The Economic Times

PFC, Coforge is among top 10 stock holdings of DSP Mutual Fund

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Business Standard

Power Grid acquires two project special purpose vehicles from PFCCL

Power Grid Corp on Thursday said it has acquired 2 project special purpose vehicles from PFC Consulting Ltd. The two SPVs are Sirohi Transmission Ltd and Beawar-Mandsaur Transmission Ltd, a company statement said. Sirohi Transmission shall implement a system comprising establishment of new 765/400 kV sub-station near Sirohi in Rajasthan, 765kV & 400kV D/C transmission lines and associated bays extension works at existing substation in the state. Beawar-Mandsaur Transmission shall implement a system comprising establishment of 765kV D/C transmission line and associated bays extension works at existing sub-station in Rajasthan and Madhya Pradesh. Both transmission systems are to be commissioned in 24 months. According to the statement, the bid process coordinator for the two SPVs is PFC Consulting Ltd (PFCCL), which conducted a tariff-based competitive bidding. POWERGRID, through its various project SPVs, is implementing transmission system projects being constructed on build, own,

Business Line

Shapoorji Pallonji group defends PFC loan as refinancing, not a bailout

The cash flows from the real estate franchise would ensure full repayment of the loan over the tenor, it said

The Economic Times

Adani Power, NTPC, JSW Energy in the race for Sinnar Thermal

Several major power companies, including Adani Power, JSW Energy, and NTPC, are among the bidders for the debt-laden Sinnar Thermal Power plant in Maharashtra. The plant, with a potential capacity of 2,700 MW, faces challenges such as coal supply issues and legal disputes. Top creditors like Power Finance Corp and REC are seeking their dues, adding complexity to the resolution process. The Maharashtra government may also show interest in the asset, given its strategic importance in the state's power generation landscape. With multiple stakeholders involved, the future ownership of Sinnar Thermal Power remains uncertain.

Business Line

Share Market Highlights July 3, 2024: HDFC Bank drives Indian market to new heights

Sensex, Nifty updates on July 3, 2024: Indian shares hit record highs on Wednesday, driven by a surge in HDFC Bank stocks as investors anticipated an increased weightage in the MSCI Emerging Markets index. The NSE Nifty 50 rose by 0.67% to 24,286.5 points, while the S&P BSE Sensex climbed 0.69% to 79,986.8 points, crossing the 80,000 mark for the first time. HDFC Bank, which jumped 2.2%, spurred gains in the banking and financial sectors. Analysts expect HDFC Bank’s weightage to increase from 3.8% to 7.8%, potentially attracting $3.2 billion to $4 billion in inflows. Small- and mid-cap indices also saw gains of 1.03% and 0.79%, respectively. Bharat Heavy Electricals rose 4.76% on news of securing major contracts, while power financiers REC and Power Finance Corporation surged over 4% each. ICICI Lombard gained 2.51% following a brokerage upgrade.

The Economic Times

Competitive intensity in used vehicle market to be on the rise: India Ratings

India Ratings and Research predicts that vehicle financiers will increase the share of used vehicles in their AUM due to rising new vehicle prices, food inflation, heat wave, moderation in capacity utilization due to elections, and slowing rural economy. The agency also expects a decrease in FY25 growth rates from FY24 levels. The agency expects non-bank finance companies to focus on used vehicles as assets class, presenting a favorable risk-return in terms of asset quality and pricing power.