Power Finance Corporation – PFC is the largest power financier in India and is the nodal agency for APDRP and UMPP. We are concerned with the weak financial health of the state electricity board’s and distribution companies and recommend to accumulate PFC in the range of 105 – 115 ( MBP – 115 due to a 6% dividend yield ) with a long-term price objective of 156 Rural Electrification Corporation – REC is the nodal agency for financing rural electrification and finances power projects. We are concerned with the weak financial health of state electricity board’s and distribution companies and hence recommend to accumulate REC only in the range of 150 – 165 ( MBP – 165 as it offers a 5% dividend yield ) for a long-term price objective of 210
Posted on: Fri, 18 Oct 2013 12:44:02 +0000
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