PFC

Power Finance Corporation Limited · NSE · INE134E01011 · F&O · lot 1,300 · 272 sessions on record

₹318.00▼ −7.50 · −2.3%from ₹325.50 the session before · 1 Oct 2026 close · NSE end of day

Open: ₹325.85
High: ₹326.50
Low: ₹313.35
Day's range: ₹134.0% of the previous close
VWAP: ₹318.44close −0.14% from it
Volume, shares: 98 L1.08× the 20-session average
Turnover, ₹ crore: 310
Trades: 91,000110 shares per trade
Previous close: ₹325.50−7.50 to the close
Price band, next session: ₹286.20 – ₹349.8010% either side of the close · dynamic, widened in 5% steps when hit

Day range35% of the way up

₹313.35₹326.50

52-week range3% of the way up

₹313.35 1 Oct₹486.50 28 Apr

−35% from the high · +1.5% from the low

The desk read · 1 Octexpiry 27 Oct · 26 days

short build-up

futures read

price −2.3% · OI +0.1%

−0.05

futures premium, ₹

0.0% to spot ₹318.00

0.80

puts per call, by OI

by volume 0.43

340

max pain

+6.9% from the close

▲ +0.1%

futures OI on the day

+42 lots · 79,000 open

Short build-up into a 26-day expiry: futures OI +0.1% on a −2.3% day, the most call OI sits at 350, the most put OI at 330, max pain 340.

Futures and options

1 Oct close · lot 1,300 · NSE end of day

PFC futures closed at ₹317.95, 0.0% to spot, with 96% of open interest in the 27 Oct contract, and the 320 straddle prices a move of about ±5.8% by expiry.

Futures by expiryall 3 contracts NSE lists on the stock · basis against the spot close ₹318.00

Futures by expiry, basis against the spot close ₹318.00
Expiry	Close ₹	Basis ₹ · %	Annualised %	OI lots · on the day	Share of OI %	Contracts traded
27 Oct26 days	₹317.95	−0.050.0%	−0.22%	76,000▼ −0.2% · −160 lots	96	5,200
23 Nov53 days	₹319.00	+1.00+0.3%	+2.2%	2,700▲ +4.2% · +110 lots	3.4	480
29 Dec89 days	₹318.75	+0.75+0.2%	+0.97%	130▲ +252.6% · +96 lots	0.17	120

3.6% of futures OI sits beyond the 27 Oct contract · 46 of 54 listed contracts traded · 22,000 option contracts changed hands

Options27 Oct expiry · 26 days

The 320 straddle closed at ₹18.30 (call 8.10 + put 10.20), pricing a move of about ±5.8% by the 27 Oct expiry. In the last 253 windows of 19 sessions, PFC moved more than that 129 times.

Call OI, lots: 17,0002.2 cr shares
Put OI, lots: 14,0001.8 cr shares
Puts per call, by OI: 0.80by volume 0.43
Max pain: 340+6.9% from the close
Contracts traded: 46 of 54listed for this expiry

Open interest by strike, lotstop three strikes each side

Calls

Strike

Puts

2,800

350

1,400

2,000

340

1,400

2,000

330

1,500

Open interest added on the day, lotsthree largest additions each side

Calls

Strike

Puts

+230

340

+430

330

+160

315

+54

300

+160

290

+54

Close ₹ · Nifty 50 rebased to the first close · futures open interest by the day's build-up126 sessions to 1 Oct · axis fixed at 4 × ATR-14 around the last close · hover or tap a session and the read beside the chart follows it

272 sessions on file · from 28 Aug

PFC close
Nifty 50, rebased
long build-up · price up, OI up
short build-up · price down, OI up
short covering · price up, OI down
long unwinding · price down, OI down

Session read · latest close: 1 Oct 2026
Close ₹ · day %: ₹318.00▼ −2.3% on the previous close
Against Nifty 50: Nifty −0.9%−1.4 pp difference on the day
Futures OI, lots: 79,000+42 lots · +0.1% on the day
The day's build-up: short build-upprice −2.3% · OI +0.1%
Against the averages: below 20 · below 5020-session ₹342.84 (−7.2%) · 50-session ₹369.46 (−14%)
Volume: 1.08×the previous 20 sessions · 98 L shares
Extremes on the day: lowest close in 250 sessions

The market after the news

close against the last close before each bulletin · Nifty 50 over the same sessions

After the last 8 bulletins, PFC closed higher five sessions later in 0 of 8.

Close after each bulletin on the day, one session later and five sessions later, with Nifty 50 and futures open interest
Bulletin	Day of the news	1 session later	5 sessions later	Futures OI on the day
2 JulREC and PFC approve merger to enhance financing capabilities	▼ −1.0%Nifty +0.4% · −1.4 pp	▼ −2.1%Nifty +1.1% · −3.1 pp	▼ −5.5%Nifty +0.1% · −5.6 pp	▲ +1.0%short build-up
1 JulPower Finance Corp to absorb REC Limited in merger	▼ −0.2%Nifty +0.7% · −0.9 pp	▼ −1.1%Nifty +1.1% · −2.3 pp	▼ −6.2%Nifty −0.2% · −6.0 pp	▲ +1.1%short build-up
30 JunMerger of REC Limited into Power Finance Corporation	▲ +1.5%Nifty +0.6% · +0.9 pp	▲ +1.4%Nifty +1.3% · +0.1 pp	▼ −4.9%Nifty +0.1% · −5.0 pp	▲ +0.3%long build-up
30 JunREC and PFC merger approved at 88:100 share swap ratio	0.0%Nifty −0.3% · +0.3 pp	▲ +1.5%Nifty +0.3% · +1.2 pp	▼ −2.7%Nifty +1.9% · −4.5 pp	▼ −0.6%long unwinding
29 JunPFC and REC merger creates ₹11 lakh crore financing giant	0.0%Nifty −0.3% · +0.3 pp	▲ +1.5%Nifty +0.3% · +1.2 pp	▼ −2.7%Nifty +1.9% · −4.5 pp	▼ −0.6%long unwinding
29 JunREC and PFC merger approved at 88:100 share swap	▼ −1.9%Nifty −0.5% · −1.4 pp	▼ −1.9%Nifty −0.8% · −1.1 pp	▼ −2.7%Nifty +1.6% · −4.2 pp	▼ −7.5%long unwinding
26 JunREC board to meet for PFC merger approval on June 28	▼ −1.9%Nifty −0.5% · −1.4 pp	▼ −1.9%Nifty −0.8% · −1.1 pp	▼ −2.7%Nifty +1.6% · −4.2 pp	▼ −7.5%long unwinding
26 JunREC board to meet for PFC merger approval on June 28	▼ −1.9%Nifty −0.5% · −1.4 pp	▼ −1.9%Nifty −0.8% · −1.1 pp	▼ −2.7%Nifty +1.6% · −4.2 pp	▼ −7.5%long unwinding

8 of 24 bulletins

Quarterly results

consolidated · latest filed 7 Aug, 08:20 pm IST · NSE filings

Revenue ₹28,527 cr, −0.04% on a year earlier; profit ₹8,998 cr, +0.18% in the Jun 2026 quarter, consolidated.

Last 8 quarters, consolidated₹ crore as filed · year on year against the same quarter a year earlier · market: close on the first session after the filing against the last close before it, Nifty 50 over the same session

Quarterly results of PFC on the consolidated basis with the market's move on the first session after each filing
Quarter	Revenue ₹ cr	Revenue YoY	Profit ₹ cr	Profit YoY	EPS ₹	Market on the day
Jun 2026filed 7 Aug	₹28,527 cr	−0.04%	₹8,998 cr	▲ +0.18%	21.25	▼ −8.3%Nifty +0.1% · −8.3 pp
Mar 2026filed 13 May · audited	₹28,920 cr	▼ −1.2%	₹8,598 cr	▲ +2.9%	21.21	▲ +1.2%Nifty +1.2% · 0.0 pp
Dec 2025filed 5 Feb	₹29,095 cr	▲ +8.6%	₹8,212 cr	▲ +5.8%	19.07	▲ +1.0%Nifty +0.2% · +0.8 pp
Sept 2025filed 7 Nov	₹28,890 cr	▲ +12%	₹7,834 cr	▲ +8.6%	17.40	▼ −0.8%Nifty +0.3% · −1.1 pp
Jun 2025filed 6 Aug	₹28,539 cr	▲ +15%	₹8,981 cr	▲ +25%	20.81	▼ −1.6%Nifty +0.1% · −1.7 pp
Mar 2025filed 21 May · audited	₹29,265 cr	▲ +21%	₹8,358 cr	▲ +11%	19.14	▼ −1.5%Nifty −0.8% · −0.7 pp
Dec 2024filed 12 Feb	₹26,798 cr	▲ +11,000%	₹7,760 cr	▲ +12,000%	17.66	▲ +2.9%Nifty −0.1% · +2.9 pp
Sept 2024filed 8 Nov	₹25,722 cr	▲ +15%	₹7,215 cr	▲ +8.8%	16.07	▲ +7.2%Nifty 0.0% · +7.3 pp

By financial yearApril to March · each year the sum of its four quarters as filed, consolidated · EPS summed across the quarters · only complete years

Financial-year results of PFC on the consolidated basis, summed from the quarters filed
Year	Revenue ₹ cr	Revenue YoY	Profit ₹ cr	Profit YoY	EPS ₹
FY26to Mar 2026	₹1,15,444 cr	▲ +8.4%	₹33,625 cr	▲ +10%	78.49
FY25to Mar 2025	₹1,06,502 cr	▲ +57%	₹30,514 cr	▲ +51%	69.67
FY24to Mar 2024	₹67,761 cr	—	₹20,230 cr	—	63.35

Fundamentals

consolidated · filings to Jun 2026 · close ₹318.00 on 1 Oct

PFC trades at 4.0 times trailing earnings against 5.9 for its industry, 0.61 times book value, revenue +4.6% over twelve months, a 12% dividend yield, market cap ₹1,00,000 cr.

Valuationarithmetic on filings and the close · each cell names what it rests on · — where an input is missing

Market cap: ₹1,00,000 cron 1 Oct · free float ₹46,000 cr
Price to earnings: 4.0consolidated · four quarters to Jun 2026 · industry 5.9
Trailing EPS: ₹78.93diluted · consolidated · four quarters to Jun 2026
Price to book: 0.61consolidated · balance sheet to Mar 2026
Book value a share: ₹525.56consolidated · balance sheet to Mar 2026 · over NSE's share count
Debt to equity: 2.0borrowings over equity · consolidated · balance sheet to Mar 2026
Return on equity: 20%trailing profit over average equity · consolidated
Dividend yield: 12%₹37.50 a share in 365 days
Face value: ₹10a share
Shares outstanding: 330 cron 1 Oct

Growthsums of the four quarters filed to Jun 2026 · growth against the four quarters before them · consolidated

Revenue, trailing 12 months: ₹1,15,431 crfour quarters to Jun 2026
Revenue growth, 12 months: ▲ +4.6%against the twelve months before
Revenue 3-year CAGR: ▲ +13%trailing twelve months against the twelve months 3 years earlier · consolidated
Profit, trailing 12 months: ₹33,642 crfour quarters to Jun 2026
Profit growth, 12 months: ▲ +4.1%against the twelve months before
Profit 3-year CAGR: ▲ +14%trailing twelve months against the twelve months 3 years earlier · consolidated

PeersBSE sub-group Financial Institution · F&O stocks with filings on record · industry P/E 5.9, market caps over trailing profit of 4 stocks

Stocks in the BSE sub-group Financial Institution with market cap, price to earnings and price to book
Stock	Market cap ₹	P/E	P/B	Close ₹
PFCPower Finance Corporation Limited	1,00,000 cron 1 Oct	4.0consolidated	0.61	₹318.00
IRFCIndian Railway Finance Corporation Limited	1,00,000 cron 1 Oct	11standalone	1.8	₹77.05
RECLTDREC Limited	76,000 cron 1 Oct	4.7consolidated	0.89	₹287.75
HUDCOHousing & Urban Development Corporation Limited	32,000 cron 1 Oct	—	1.5	₹161.55
IREDAIndian Renewable Energy Development Agency Limited	31,000 cron 1 Oct	16consolidated	2.3	₹111.00
IFCIIFCI Limited	18,000 cron 1 Oct	—	1.1	₹65.15
TFCILTDTourism Finance Corporation of India Limited	6,400 cron 1 Oct	—	4.9	₹138.80

Shareholding

quarter to 30 Jun · none pledged · NSE filings

Promoters hold 56.0%, foreign portfolio investors 20.5%, mutual funds 9.3% and insurance companies 4.4%, as filed for the quarter to 30 Jun.

56.0%20.5%9.3%

By category, last 5 quarterspercent of shares · beneath each figure, the change in percentage points against the previous quarter on file

Shareholding of PFC by category over the last 5 quarters with the change against the previous quarter
Category	30 Jun	31 Mar	31 Dec	30 Sept	30 Jun
Promoters	55.990.00 pp	55.990.00 pp	55.990.00 pp	55.990.00 pp	55.99
Foreign portfolio investors	20.54▲ +0.90 pp	19.64▲ +1.31 pp	18.33▼ −0.51 pp	18.84▲ +0.18 pp	18.66
Mutual funds	9.34▲ +0.05 pp	9.29▼ −0.80 pp	10.09▼ −0.49 pp	10.58▼ −0.29 pp	10.87
Insurance companies	4.360.00 pp	4.36▲ +0.06 pp	4.30▲ +0.09 pp	4.21▲ +0.36 pp	3.85
Banks and financial institutions	0.80▼ −0.60 pp	1.40▲ +0.31 pp	1.09▼ −0.16 pp	1.25▼ −0.14 pp	1.39
Individual investors	7.39▼ −0.35 pp	7.74▼ −0.94 pp	8.68▲ +1.00 pp	7.68▼ −0.06 pp	7.74
Bodies corporate	1.20▲ +0.07 pp	1.13▲ +0.05 pp	1.08▲ +0.02 pp	1.060.00 pp	1.06
Others	0.38▼ −0.07 pp	0.45▲ +0.01 pp	0.44▲ +0.05 pp	0.39▼ −0.05 pp	0.44

Corporate actions

NSE and BSE records

Nothing upcoming on record; the last was a dividend of ₹3.90 a share, ex-date 27 Aug 2026.

Actionsex-dates · upcoming first, then the last eight · dividends in rupees a share, bonus and split as ratios

Corporate actions of PFC, upcoming first, then the most recent
Ex-date	Action	Amount or ratio	Record date	Source
recent
27 Aug 2026	dividend	₹3.90	27 Aug 2026	BSE
31 Jul 2026	dividend	₹3.95	31 Jul 2026	NSE
23 Mar 2026	dividend	₹3.25	23 Mar 2026	NSE
20 Feb 2026	dividend	₹4.00	20 Feb 2026	BSE
26 Nov 2025	dividend	₹3.65	26 Nov 2025	BSE
18 Aug 2025	dividend	₹3.70	18 Aug 2025	BSE
13 Jun 2025	dividend	₹2.05	13 Jun 2025	NSE
19 Mar 2025	dividend	₹3.50	19 Mar 2025	BSE

Calendaras notified to the exchange

Next results: —no board meeting notified yet
Dividends in 365 days: ₹37.50a share · ex-dates inside the year
Last dividend: ₹3.90ex-date 27 Aug 2026

Price history

272 sessions on record · to 1 Oct · NSE end of day

PFC is −8.2% over 20 sessions against Nifty's −6.2%, 35% below its 52-week high, realised volatility 22% annualised.

Returns against Nifty 50longest window first · Nifty 50 over the same sessions

Returns of the stock and Nifty 50 over six windows, longest first
Window	From ₹	PFC %	Nifty 50 %	Difference pp
250 sessionssince 26 Sept	₹397.30	▼ −20%	▼ −9.1%	−11
120 sessionssince 9 Apr	₹428.05	▼ −26%	▼ −5.7%	−20
60 sessionssince 8 Jul	₹403.60	▼ −21%	▼ −6.1%	−15
20 sessionssince 2 Sept	₹346.52	▼ −8.2%	▼ −6.2%	−2.0
5 sessionssince 24 Sept	₹339.34	▼ −6.3%	▼ −2.8%	−3.5
1 sessionsince 30 Sept	₹325.49	▼ −2.3%	▼ −0.88%	−1.4

Averages of the closeclose against each average

5-session average: ₹327.12close −2.8% from it
20-session average: ₹342.84close −7.2% from it
50-session average: ₹369.46close −14% from it
200-session average: ₹399.74close −20% from it

Range and volumetrue range over 14 sessions · high to low over 20 · volume against the 20-session average

Average true range, 14: ₹6.82.1% of the close
Average day's range, 20: ₹6.42.0% of the close
Volume against 20 sessions: 1.08×98 L vs 89 L average

Volatility and co-movement with Nifty 50annualised from daily log returns · counts share one denominator per cell

Realised volatility, 20: 22%≈ ±1.4% a session · moved more than that on 6 of 20
Realised volatility, 60: 27%≈ ±1.7% a session · moved more than that on 14 of 60
Realised volatility, 250: 29%≈ ±1.8% a session · moved more than that on 67 of 250
Beta to Nifty, 60: 0.74moved with Nifty on 31 of 60 sessions
Beta to Nifty, 250: 1.12moved with Nifty on 174 of 250 sessions

Up and down sessionscloses above and below the previous close

Last 20 sessions: 9 up · 11 downof 20
Last 60 sessions: 25 up · 33 downof 58
Last 250 sessions: 120 up · 128 downof 248
Best session, 250: ▲ +5.9%28 Jan
Worst session, 250: ▼ −8.3%10 Aug

Power Finance Corporation Limited is in 17 NSE indices

all 17 indices

46 bulletins on PFC

latest 2 Jul 2026

Beats in the coverage

Often mentioned with

REC33

July 2026

2 Jul REC and PFC approve merger to enhance financing capabilitiesREC and PFC's Boards approved a merger scheme to create a larger infrastructure financing entity with a combined loan book over ₹11 lakh crore. This move aims to enhance financial capabilities and support investments in power and renewable energy.High 1 Jul Power Finance Corp to absorb REC Limited in mergerPower Finance Corporation Limited is set to absorb REC Limited in a merger facilitated by Cyril Amarchand Mangaldas. This strategic move aims for operational efficiencies and involves significant discussions with government authorities.High

June 2026

30 Jun Merger of REC Limited into Power Finance CorporationCyril Amarchand Mangaldas facilitated the merger of REC Limited into Power Finance Corporation, creating a combined entity valued at approximately ₹2.42 lakh crores with a loan book exceeding ₹11 lakh crore. The share exchange ratio is set at 88 PFC shares for every 100 REC shares.High 30 Jun REC and PFC merger approved at 88:100 share swap ratioREC Limited and Power Finance Corporation approved a merger scheme with a share swap ratio of 88:100. The merger aims to form a larger financing entity with a loan book exceeding ₹11 lakh crore, pending necessary approvals.High 29 Jun PFC and REC merger creates ₹11 lakh crore financing giantThe Boards of Power Finance Corporation and REC approved a merger scheme to create a new entity with a loan book exceeding ₹11 lakh crore. The merger is subject to regulatory approvals, enhancing financing capabilities in the power sector.High 29 Jun REC and PFC merger approved at 88:100 share swapREC Limited and Power Finance Corporation Limited's boards approved a merger at an 88:100 share swap ratio, creating a combined entity with a loan book exceeding ₹11 lakh crore. The merger awaits regulatory and shareholder approvals.High 26 Jun REC board to meet for PFC merger approval on June 28REC's board will meet on 28 June 2026 to consider the merger with PFC, following presidential approval on 10 June. PFC shares have gained 22% in six months, while REC is up 2%.High 26 Jun REC board to meet for PFC merger approval on June 28REC's board will meet on 28 June 2026 to approve the merger with PFC, which has gained 22% in six months. REC has received presidential approval for the merger, marking a significant development for market participants.High

May 2026

22 May PFC and REC merger impacts trading outlookPFC shares have risen 17% in 2026, while REC shares declined 9% amid merger talks. The Cabinet approved PFC's acquisition of a majority stake in REC, aiming to consolidate operations into a single entity, pending regulatory approvals.Medium 21 May PFC and REC merger: trading implications for investorsPFC shares have risen 17% in 2026, while REC shares have dropped 9% amid merger talks. Analysts are evaluating investment opportunities as the merger aims to streamline operations and consolidate the balance sheets of both companies.Medium 19 May PFC board approves REC merger proposal for President's approvalPower Finance Corporation's board approved the merger proposal of REC Limited, pending the President's approval. The merger is contingent on maintaining the entity's status as a Government Company, with the share exchange ratio to be determined by valuers.High 14 May PFC reports 3% net profit rise, merger with REC by 2027Power Finance Corporation reported a 3% rise in net profit, impacted by borrower prepayments. The company and REC Ltd are targeting a merger completion by April 2027, pending regulatory approvals.Medium 14 May PFC reports Q4 profit growth and improved asset qualityPower Finance Corporation reported a 10.8% increase in Q4 net profit to ₹6,999 crore, despite a slight revenue decline. EBITDA rose 5% to ₹28,503 crore, with improved asset quality metrics, positively impacting market sentiment.Medium 14 May PFC reports 3% net profit rise, merger with REC by 2027Power Finance Corporation reported a 3% rise in net profit, impacted by borrower prepayments. PFC and REC aim to complete their merger by April 2027, pending regulatory approvals, to enhance financing in India's power sector.Medium 13 May PFC reports Q4 profit growth, improved asset qualityPower Finance Corporation reported a 10.8% YoY increase in Q4 net profit to ₹6,999 cr, despite a 1.2% decline in revenue to ₹28,919 cr. The EBITDA margin improved to 98.6%, and asset quality showed significant improvement.Medium

March 2026

25 Mar PFC appoints consultants for REC merger processPower Finance Corporation appointed RBSA Advisors and SBI Capital Markets for its merger with REC Ltd. Following the announcement, PFC shares rose 4.3% to ₹397.95, while the BSE Sensex fell 9.9%.Medium 24 Mar PFC appoints consultants for REC merger processPower Finance Corporation appointed RBSA Advisors and SBI Capital Markets for its merger with REC Ltd. PFC shares rose 4.3% to ₹397.95, while the BSE Sensex dropped 9.9% in the same timeframe.Medium 24 Mar PFC appoints consultants for REC merger processPFC appointed RBSA Advisors and SBI Capital Markets for its merger with REC Ltd. Shares rose 4.3% to ₹397.95, reflecting positive sentiment following the government's restructuring announcement for public sector NBFCs.Medium 19 Mar PFC announces ₹1.6 lakh crore borrowing plan and dividendPower Finance Corporation plans to raise ₹1.6 lakh crore for FY 2026-27 and announced a fourth interim dividend for FY 2025-26. The news drove a 3% increase in its share price, reflecting strong investor interest.High 18 Mar PFC approves ₹1.6 lakh crore borrowing plan for FY27Power Finance Corporation approved a ₹1.6 lakh crore borrowing plan for FY27 to support the power sector. Additionally, it declared a fourth interim dividend of ₹3.25 per share for FY26, with a record date of 23 March 2026.High

February 2026

About Power Finance Corporation Limited

exchange masters as of 18 Sept 2026 · classification by BSE

Company: Power Finance Corporation Limited
Exchange: NSE · BSE 532810, group A
Listed on NSE: 23 Feb 2007
Classification: Financial Services › Finance › Financial Institution
Index: BSE 100
Face value: ₹10 a share
ISIN: INE134E01011
Sessions on record: 272
Price source: NSE UDiFF bhavcopy · end of day · delayed
Filings: NSE and BSE public disclosures · results, shareholding and corporate actions as filed
Computed: 2 Oct, 01:04 am IST
Bulletins: 46 · written by the desk · not a recommendation

OI Charts is not a SEBI-registered investment adviser or research analyst. Prices, open interest, filings and the desk read are exchange data and arithmetic on it, not a basis for any investment decision.