Shares of PTC India Financial Services (PFS) jumped as much as 3.15 per cent in the early trade on Friday after the company said that it has signed a pact with India Infrastructure Finance Company (IIFCL) to provide financing for infrastructure projects.
At 9.53 am, PFS shares were trading 2.92 per cent up Rs 42.25. The scrip opened at Rs 42 and had touched a high and low of Rs 42.45 and Rs 41.75, respectively, in trade so far. Sensex was down 49.05 points, or 0.19 per cent, at 25,792.87. Later, the scrip closed 1.82 per cent up at Rs 41.90.
As per the agreement, PFS and IIFCL will come together to provide one single window to promoters of Infrastructure projects particularly in energy value chain and facilitate their financing in India. Both companies will collaborate to provide credit enhancement facility to various projects to enable their financing at competitive rates, apart from collaborating in areas of mutual interest towards service to infrastructure sector.
The promoters holding in the company stood at 60 per cent, while institutions and non-institutions held 13.89 per cent and 26.11 per cent respectively.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs 73.15 on 15-Jan-2015 and a 52 week low of Rs. 37.10 on 08-Sep-2015.
PFS is a non-banking finance company promoted by FTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (IFC) by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain. PFS also provides fee based services viz loan syndication and underwriting etc.