Sell Power Finance Corporation, target price Rs 101: ICICI Direct

ICICI Direct has sell call on Power Finance Corporation with a target price of Rs 101. The current market price of Power Finance Corporation is Rs 107.25. 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 27984.86 Crore) operating in Term Lending Institutions sector.

Power Finance Corporation Ltd. key Products/Revenue Segments include Interest, Dividend and Fees & Commission Income for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 19215.00 Crore, down -.35 % from last quarter Total Income of Rs 19282.60 Crore and up 4.19 % from last year same quarter Total Income of Rs 18441.72 Crore. Company reported net profit after tax of Rs 4893.91 Crore in latest quarter.

Investment Rationale
Breakdown below bearish flag like formation, as price facing resistance at the 50-days EMA.

Promoter/FII Holdings
Promoters held 55.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 16.71 per cent, DIIs 13.56 per cent.