Power Finance Corporation (PFC) has become the first Indian government-owned entity to collaborate with SACE, the Italian export credit agency. Under the Push Strategy initiative, PFC and SACE will establish an innovative ECA-backed financing facility, benefiting from an 80% guarantee from SACE.
Sectorally, buying was seen in realty, auto, healthcare, and utilities while FMCG, oil & gas, IT, and consumer durable stocks saw some selling pressure.
Consolidated Loan Asset Book crossed Rs 9 lakh crore mark and stood at Rs 9,23,724 crore as of September 30, 2023, versus Rs 7,71,119 crores as of September 30, 2022, registering an increase of 20%.
The PFC had proposed to issue bonus shares by capitalising securities premium account to the extent that each shareholder is entitled to a new equity share of Rs 10 each for every four equity shares of Rs 10 each