Page 9 - Pfc News Today

State-owned Power Finance Corporation (PFC) has signed a loan agreement with Assam Petrochemicals to provide a term loan of Rs 1,229 crore. The loan will be used to implement a 500 tonnes per day methanol plant and a 200 tonnes per day formalin plant in Assam.

" In the case of ICICI and Axis, the big run-up has happened. They are trading at their historical price to book multiples. If it continues to do that, you will make that 20-25% return over the next one year or so in each of ICICI and Axis Bank. If you look at the midcap banks, if you look at the NBFCs, they have all derated in the past and now with the valuations catching up, that is where the interest is more right now."

State-owned Power Finance Corporation (PFC) has entered into a pact with Damodar Valley Corporation (DVC) as part of which it will provide Rs 4,527.68 crore loan to set up a 1,320 MW project at Raghunathpur in West Bengal. The Raghunathpur Phase-II project -- a collaborative effort between PFC and DVC -- will contribute significantly to the power generation capacity in West Bengal, a PFC statement said on Friday.

Apraava Energy has signed memorandums of understanding with state-owned REC and Power Finance Corporation, to secure $1.2 billion in financing for its wind, transmission and metering projects in India. The energy solutions provider, jointly owned by the CLP Group and Caisse de depot et placement du Quebec (CDPQ), will use the funding to continue its diversification into transmission and metering which will facilitate Indias transition to a greener economy.

IDFC First Bank is expected to see inflows of $200 million from global passive funds if included in the MSCI index. The stock has rallied nearly 48% so far this year. Power Finance, Ashok Leyland and Cummins India could see inflows of around $190 million each if these stocks are in the MSCI index.

PFC Consulting Ltd (PFCCL), a wholly-owned subsidiary of Power Finance Corporation (PFC), has transferred two transmission projects to Apraava Energy and one project to Sterlite Power. The transmission projects were transferred through Tariff Based Competitive Bidding (TBCB) process for transmission service providers and involve the establishment of pooling stations and transmission corridors in Rajasthan.

The project was awarded to Sterlite Power through the tariff based competitive bidding process in March 2023

Our primary focus in any case is on the power sector and energy transition. But, last year, in the second half of the financial year, we were allowed to fund the infrastructure sector with a 30% cap. Last year the total sanctions made under the infrastructure sector was Rs 15,000 crore approximately, says Parminder Chopra, director-finance.

Supreme Court of Appeal found Paul de Robillard, his wife and family trust abused court processes to avoid R146m tax bill

The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives, and will strengthen the company by ensuring the financial closure for future projects.