GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of state-run Power Finance Corporation (PFC) fell over 3% to Rs 423 on the BSE in Wednesday’s trade after the company disclosed an outstanding exposure to controversy-hit Gensol Engineering. In a statement released on Tuesday evening, PFC revealed that out of the Rs 352 crore it had disbursed to Gensol Engineering in 2023 for leasing electric vehicles, Rs 307 crore remains unpaid. The company is actively pursuing options to address the situation, including filing a complaint with the Economic Offences Wing of the police over the alleged falsification of documents. In January 2023, PFC sanctioned Rs 633 crore to Gensol Engineering for the procurement of 6,000 electric vehicles, including Rs 587 crore for the purchase of 5,000 electric four-wheelers for BluSmart Mobility's ride-hailing service and Rs 46 crore for 1,000 electric three-wheelers for cargo operations. However, the three-wheeler loan was not utilised by Gensol, PFC me...

[hfe_template id='11223'] [ad_1] Global brokerage firm CLSA has upgraded its ratings on Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) to ‘High Perform’ from ‘Outperform’, citing robust loan growth, strong return on equity (ROE), and attractive dividend yields. The brokerage firm has also set a target price of Rs 525 for both REC and PFC, adjusting from their previous targets of Rs 590 and Rs 540, respectively. CLSA emphasized that asset quality concerns remain minimal, given that lenders are maintaining tight control over project approvals and agreements during the ongoing capex cycle. Despite concerns over process-related slowdowns and sanction delays, CLSA remains optimistic about the mid-teen loan growth outlook over FY26-27 for both companies. REC: High perform| Target price: Rs 525 CLSA highlighted that REC's loan growth over the past 5-7 quarters has been strong, ranging between 15%-21%. The note pointed out that while there have b...

[hfe_template id='11223'] [ad_1] ACME Solar Holdings shares may grab attention on Friday as the company’s subsidiary ACME Renewtech secured financing of Rs 1,988 crore from Power Finance Corporation (PFC). Additionally, ACME Solar has also won a 300 MW SECI ISTS solar project. “ACME Renewtech Private Limited, a subsidiary of ACME Solar Holdings Limited (“ACME Solar”), has successfully secured INR 1,988 crore in term loan financing from Power Finance Corporation (PFC) to fund the development and construction of a 300 MW Solar-Wind Hybrid Renewable Energy Project,” said the company in its exchange filing. The project will be located in high-resource potential areas, with solar capacity to be developed in Bikaner, Rajasthan, and wind sites in Bhuj, Gujarat. The power purchase agreement (PPA) has already been signed with NTPC, and grid connectivity for the project is in place. The land for the solar capacity has been fully procured. PFC, acting as the sole lender, has struct...

[hfe_template id='11223'] [ad_1] Retail holding in 53 stocks in the BSE PSU index has gone up in the 9 months ended September 30, 2024 versus the December 2023 quarter and in this, 33 public sector stocks have outperformed the Nifty on the year-to-date basis. As against 13% returns by S&P BSE Sensex in CY24 so far, the returns by these stocks are in the range of 14% and 150%, according to Ace Equity data. By retail ownership, we mean individual investors holding shares worth Rs 2 lakh in a company. Bharat Dynamics has seen the highest increase in retail shareholding which grew by 524 bps. At the end of September quarter, retail holding stood at 11.71% versus 6.47% at the end of December 2023. Next is NHPC where retail holding increased by 507 bps from 4.45% in Q4CY24 versus 9.52% in Q3CY25. It is followed by BEML, where retail investors grew by 492 bps in the said period from 13.10% to 18.02%. The CY2024 returns by these stocks were at 42%, 27% and 51%. The highest r...

[hfe_template id='11223'] [ad_1] IRFC Share Price 145.18 03:59 PM | 19 Nov 2024 6.9(4.99%) Suzlon Energy Share Price 62.22 03:59 PM | 19 Nov 2024 2.97(5.0%) IREDA Share Price 190.15 03:59 PM | 19 Nov 2024 2.63(1.41%) Tata Motors Share Price 783.2 03:59 PM | 19 Nov 2024 11.31(1.47%) YES Bank Share Price 19.56 03:59 PM | 19 Nov 2024 0.28(1.46%) HDFC Bank Share Price 1742.25 03:59 PM | 19 Nov 2024 37.16(2.18%) NHPC Share Price 80.01 03:59 PM | 19 Nov 2024 1.86(2.37%) RVNL Share Price 432.15 03:58 PM | 19 Nov 2024 15.95(3.84%) SBI Share Price 803.0 03:59 PM | 19 Nov 2024 -11.3(-1.39%) Tata Power Share Price 408.1 03:59 PM | 19 Nov 2024 3.41(0.85%) Tata Steel Share Price 139.46 03:59 PM | 19 Nov 2024 -1.75(-1.24%) Adani Power Share Price 524.1 03:59 PM | 19 Nov 2024 -2.75(-0.53%) PayTM Share Price 814.25 03:59 PM | 19 Nov 2024 30.36(3.88%) PNB Share Price 100.86 03:59 PM | 19 Nov 2024 0.33(0.33%) Zomato Share Price 271.36 03:59 PM | 19 Nov 2024 0.57(0.22%) BEL Share Price 279...