One public sector organization in India that finances infrastructure is Power Finance Corporation Ltd. (PFC). Under the administrative supervision of the Ministry of Power, Government of India, it was founded in 1986 and finances the country’s power industry. In A ‘Maharatna’ enterprise classification was given to PFC on October 12, 2021.
In January 2007, the corporation, which was initially controlled entirely by the Indian government, went public. The issue has one of the highest oversubscription rates of any Indian CPSU IPO, at over 76 times. Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) list PFC. It also has the designation of Maharatna PSU in India and is an ISO 9001:2000 certified corporation . The Indian government gave its approval to PFC’s acquisition of REC on December 6, 2018.On March 28, 2019, the acquisition deal was finalized, and PFC paid the Indian government almost Rs. 145 million for the 52.63% stake.
TECHNICAL ANALYSIS
The stock show a bull rally of 321% from past 16 months and the stock is taking support from a trendline from June 2023 to November 2024 and from past 1 month where nifty fall around 10.88% the stock just consolidate near to the support trendline. If we see there is also a increase in volume near to the support trendline when price come near to it.
