Rs 2.37 Lakh crore projects: This multibagger NBFC giant signs MoU with 20 companies in the clean energy space!

Shares of the company gained more than 45 per cent in the last six months.

On July 22, 2023, Power Finance Corporation Limited informed in the exchange filing that the company has executed various MoU of more than Rs 2.37 lakh crore with 20 companies in both the public and private sectors. These MoU were signed with solar, wind power, green hydrogen, battery storage, and electric vehicles companies as well as manufacturer of green energy equipment in the clean energy space.

Power Finance Corporation has signed MoU with Adani, Greenco, ReNew, Avaada, JBM Auto, Megha Engineering & Infrastructure Limited, and Rajasthan Renewable Energy. Power Finance Corporation will enjoy the unique advantage of providing funds for longer tenure at competitive rates and by taking larger exposure. The company recently diversified its loan portfolio by foraying into infrastructure projects such as refineries, ports, and metro.

Power Finance Corporation Limited, incorporated in 1986, is a non-banking financial company (NBFC) with infrastructure finance company status. It was set up by the Government of India (GoI) as a specialized financial institution to fund projects in the domestic power sector.

Power Finance Corporation Limited has delivered multibagger returns to its shareholders. During this period, shares of Power Finance Corporation Limited surged from Rs 113.15 on July 25, 2022, to Rs 227.00 on July 21, 2023, an increase of about 100 per cent in one year holding period, and investors should keep a close eye on this stock.

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