Power Finance Corporation Ltd. shares drop 0.69% as Sensex falls

Power Finance Corporation Ltd. shares drop 0.69% as Sensex falls
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Synopsis

On the technical charts, the RSI of the stock stood at 41.71.

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India is hardly immune to the global trend of sliding fees and trading commissions.

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Shares of Ltd. traded 0.69 per cent down at Rs 122.6 at 12:27PM (IST) on Monday, even as BSE benchmark Sensex dropped 463.65 points to 49394.59.

The scrip had settled at Rs 123.45 in the previous session. The stock quoted a 52-week high price of Rs 140.5 and 52-week low of Rs 74.2, respectively. As per BSE data, total traded volume on the counter till 12:27PM (IST) stood at 148064 shares with a turnover of Rs 1.82 crore.

At the current price, the stock traded at 3.5 times its trailing 12-month EPS of Rs 35.21 per share and 0.49 times its price-to-book value, exchange data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.57.

Shareholding Details

Promoters held 55.99 per cent stake in the company as of 31-Dec-2020, while FIIs owned 17.37 per cent and DIIs 13.89 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 41.71. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a 'buy' or'sell' recommendation using a single valuation ratio.

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