Public sector Power Finance has a market capitalization of Rs. 1 lakh crore crossed on November 14, 2023. A public sector enterprise, has crossed the market capitalization of Rs. 1 lakh crore as of November 2023. According to the data from [NSE] the share price of Power Finance Corporation Ltd was Rs. 307.5 on November 13, 2023, which implies a market capitalization of Rs. 94,943.93 crore.
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| Power Finance Corporation |
This is a significant milestone for the company,
And it is a testament to its strong financial performance and growth prospects. Power Finance is a leading provider of financial services to the power sector in India. The company offers a wide range of products and services, including project financing, term financing, working capital financing, and advisory services. Power Finance has played a key role in the development of the power sector in India, and it continues to be a major player in the industry.The crossing of the Rs. 1 lakh crore market capitalization mark is a reflection of the investor community's confidence in Power Finance. It is also a sign of the company's growing importance in the Indian economy.
This is a remarkable achievement for the company, which provides financial assistance to the power sector in India. Power Finance Corporation Ltd has also reported strong financial performance in the recent quarters, with a net profit of Rs. 2,469.60 crore in Q2 FY 2023-24, up by 23.61% year-on-year.
The company has also declared an interim dividend of Rs. 8 per share for the financial year 2023-24. Power Finance Corporation Ltd is one of the leading term lending institutions in the power sector, with a diversified portfolio of projects across generation, transmission, distribution, and renewable energy.
The company has also been involved in various initiatives to promote green energy, such as financing solar parks, rooftop solar projects, and electric vehicle charging stations. Power Finance Corporation Ltd is ranked 36th in the ET 500 2023 ranking of India's top companies.