Buy Power Finance Corporation, target price Rs 148: Yes Securities

Yes Securities has buy call on Power Finance Corporation Ltd. with a target price of Rs 148. The current market price of Power Finance Corporation is Rs 137.8.

Time period given by analyst is Intra Day when Power Finance Corporation Ltd. price can reach defined target. .
Power Finance Corporation Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 36644.33 Crore) operating in Term Lending Institutions sector.


Power Finance Corporation Ltd. key Products/Revenue Segments include Interest, Dividend, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2019.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 18973.93 Crore, up 4.51 % from last quarter Total Income of Rs 18155.14 Crore and up 12.06 % from last year same quarter Total Income of Rs 16932.24 Crore. Company reported net profit after tax of Rs 4552.75 Crore in latest quarter.

Investment Rationale
With sustained moves above the 50-day average, the series of ascending tops and bottoms remains intact. Positive follow-up action is likely to lift the stock towards the Rs 148 zone.

Promoter/FII Holdings
Promoters held 56 per cent stake in the company as of June 30, 2021, while FIIs held 17.3 per cent, DIIs 19.4 per cent and public and others 7.3 per cent.