Multibagger in just 1 year: This infrastructure finance company receives incorporation of new special purpose vehicle (SPV) project from Ministry of Power!

Multibagger in just 1 year: This infrastructure finance company receives incorporation of new special purpose vehicle (SPV) project from Ministry of Power!

Kiran Shroff

PFC signs MoU worth Rs 2.37 lakh crore with 20 companies in clean energy space!

Power Finance Corporation Limited inform that the following Special Purpose Vehicle (SP) Company has been incorporated as a wholly owned subsidiary of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC):
PFCCL is appointed as the Bid Process Coordinator (BPC) by the Ministry of Power to select developers through competitive bidding for Independent Transmission Projects (ITPs). The BPC's responsibilities include preparing the project profile and initiating land acquisition and forest clearance processes, if necessary, as per tariff-based competitive bidding guidelines. A Special Purpose Vehicle (SPV) will be formed to carry out preparatory activities for the transmission projects. After the international competitive bidding process, the SPV will be transferred to the successful bidder.

Previously, Power Finance Corporation Limited executed various Memoranda of Understanding (MoU) of more than Rs 2.37 lakh crore with 20 companies both in the public and private sectors. These MoU were signed with solar, wind power, green hydrogen, battery storage, electric vehicle companies as well as the manufacturers of green energy equipment among others in the clean energy space. Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, Rajasthan Renewable Energy, etc were some of the companies with whom PFC signed the MoU.

DSIJ offers a service 'Large Rhino' with recommendations for Large-Cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here

According to the financials, PFCL has a market cap of over Rs 62,000 crore and a 3-year stock price CAGR of 43 per cent. The company’s maximum stake is owned by The President of India (55.99 per cent) as of March 2023. The company reported excellent numbers in its Quarterly Results and annual results.

On Tuesday, shares of Power Finance Corporation Limited plunged 0.75 per cent to Rs 238.25 per share from its previous closing of Rs 240.05 with an intraday high of Rs 243.45 and an intraday low of Rs 235.40.

The stock has a PE of 5.46x and a ROE of 21 per cent. The stock gave multibagger returns of 118 per cent in just 1 year and over 190 per cent in 3 years. Investors should keep an eye on this PSU stock under the radar.

Disclaimer: The article is for informational purposes only and not investment advice. 

Previous Article Penny Stocks: Stocks likely to be in focus tomorrow!
Next Article 2,100 per cent jump in net profit: This micro-cap multibagger company reports robust Q1FY24 results!
Rate this article:
3.6

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR