Power Finance Corporation rose 1.10% to Rs 230.30 at 14:06 IST after the net profit soared 93.7% to Rs 637.90 crore on a 27.7% increase in total income to Rs 2046.42 crore in Q2 September 2009 over Q2 September 2008.
The result was announced during trading hours today, 27 October 2009.
Meanwhile, the BSE Sensex was 275.54 points, or 1.65%, to 16465.87.
On BSE, 6.15 lakh shares were traded in the counter as against an average daily volume of 1.41 lakh shares in the past one quarter.
The stock hit a high of Rs 236.40 and a low of Rs 216 so far during the day. The stock had hit a 52-week high of Rs 250.50 on 27 August 2009 and a 52-week low of Rs 86.20 on 27 October 2008.
The stock had underperformed the market over the past one month till 26 October 2009, falling 1.17% as compared to the Sensex 0.28% rise. It outperformed the market in past one quarter, gaining 4.98% as against 8.85% rise in the Sensex.
The large-cap state-run power sector lender has an equity capital of Rs 1147.77 crore. Face value per share is Rs 10.
The current price of Rs 230.30 discounts the company's Q1 June 2009 annualised EPS of Rs 19.34, by a PE multiple of 11.90.
Power Finance Corporation provides funds based services like term loans, equipment leasing, bill discounting, buyer's line of credit. It also provides non-funds based services like guarantee services, consultancy services, to the power sector.
The Government of India holds 89.78% stake in Power Finance Corporation (as on 30 June 2009).