Power Finance Corp Share Price: Power Finance Corp. shares drop 1.37% as Sensex falls

Shares of Power Finance Corporation Ltd. traded 1.37 per cent lower in Friday’s session at 11:38AM (IST). The stock opened at Rs 128.25 and has touched an intraday high and low of Rs 128.35 and Rs 125.45, respectively, during the session so far.

The stock quoted a 52-week high of Rs 140.5 and a 52-week low of 82.15. About 107,852 shares changed hands on the counter so far.

Benchmark Nifty50 was down 96.2 points at 16472.65, while the BSE Sensex traded 227.96 points lower at 55401.53 at the time of writing of this report.

In the Nifty pack, 9 stocks traded the day in the green, while 41 were in the red.

Key Financials

For the quarter ended 30-Jun-2021, the company reported consolidated sales of Rs 18973.93 crore, up 4.51 per cent from the previous quarter’s Rs 18155.14 crore and up 12.06 per cent from the year-ago quarter. The company reported net profit of Rs 3480.43 crore for the latest quarter.


Promoter Holdings

Promoters held 55.99 per cent stake in the company as of 30-Jun-2021, while FIIs held 17.35 per cent and MFs 13.19 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 118.9 on August 20, while the 50-DMA was at Rs 126.8. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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