Buy Power Finance Corporation, target price Rs 151: ICICI Securities

ICICI Securities has given a buy rating to Power Finance Corporation with a target price of Rs 151. The share price moved up by 0.75 per cent from its previous close of Rs 86.90. The stock’s last traded price is Rs 87.55.

Power Finance Corporation Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 23166.71 Crore) operating in Term Lending Institutions sector.

Power Finance Corporation Ltd. key Products/Revenue Segments include Interest which contributed Rs 28440.97 Crore to Sales Value (98.60 % of Total Sales), Dividend which contributed Rs 167.03 Crore to Sales Value (0.57 % of Total Sales), Fees & Commission Income which contributed Rs 149.02 Crore to Sales Value (0.51 % of Total Sales) and Income From Sale Of Share & Securities which contributed Rs 84.98 Crore to Sales Value (0.29 % of Total Sales)for the year ending 31-Mar-2019.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 16870.16 Crore, up 4.61 % from last quarter Sales of Rs 16126.66 Crore and up 15.56 % from last year same quarter Sales of Rs 14599.22 Crore Company reported net profit after tax of Rs 3552.38 Crore in latest quarter.