Are PFC retail bonds an attractive alternative to bank fixed deposits?
The coupons offered are in the range of 4.65 percent and 7.15 percent for all fixed rate options across maturities.
Synopsis
This is billed as an alternative to bank fixed deposits that offer record low rates now. While investors can subscribe in four maturity categories, they can exit before scheduled maturities in the liquid secondary market.
MUMBAI: Government-owned Power Finance Corporation is set to launch its public bond sale for retail investors on Friday offering up to 7.5%. The issue seeks to garner Rs 5,000 crore.
This is the first such issuance since the State Bank of India had floated a public offer about a decade ago. About fourth-fifth of the issuance is earmarked for retail and wealthy individual investors. Subscriptions close January 29.
Power Finance Corporation Ltd is quoting at Rs 115.05, down 2.09% on the day as on 13:19 IST on the NSE. The stock jumped 2.86% in last one year as compared to a 11.4% rally in NIFTY and a 0.32% spurt in the Nifty Financial Services index.
Power Finance Corporation Ltd dropped for a fifth straight session today. The stock is quoting at Rs 115.05, down 2.09% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.72% on the day, quoting at 13661.25. The Sensex is at 46664.14, down 0.63%.Power Finance Corporation Ltd has added around 10.57% in last one month.Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has increased around 4.53% in last one month and is currently quoting at 14879.15, down 1.23% on the day. The volume in the stock stood at 23.09 lakh shares today, compared to the daily average of 83.7 lakh shares in last one month.
JK gets Rs 11,000 Cr loan to liquidate power purchase thenorthlines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenorthlines.com Daily Mail and Mail on Sunday newspapers.
Power Sector to receive Rs 11000 crores financial assistance to clear power.
Power Sector to receive Rs 11000 crores financial assistance to clear power purchase liabilities under Atmanirbhar Bharat Abhiyan
Nearly Rs 1000 crores saving annually on interest payments alone
SRINAGAR: A loan assistance of 11024.47 crores has been approved for Jammu & Kashmir under the Atmanirbhar Bharat Abhiyan (liquidity infusion scheme in DISCOMs.) This will enable J&K to clear its outstanding payments under Power purchases made by it. An MoU for availing of the of the second tranche of this loan for Rs. 5444.47 crores was signed between JK Power Development Department, J&K Power Corporation Ltd. and Power Finance Corporation in the presence of the Principal Secretary Power Development Department, Sh Rohit Kansal at Srinagar today. The MoU was signed by the Director Finance PDD, Mr M. H Malik and Chief Engineer JKPCL, Mr. Mohammad Yousuf Baba and Mr. Madhu Chakraborty GM, L&D PFC. The MDs of the DI