Power Finance Corporation Ltd. Share Price

REC Limited in Focus as PFC Merger Advances

RECLTD REC Limited is in focus after receiving no-objection letters from the National Stock Exchange (NSE) and BSE on October 19, 2026, for its proposed merger with Power Finance Corporation (PFC). The merger aims to create a large power-sector financing entity with a combined loan book exceeding ₹11 lakh crore. The transaction remains subject to the necessary regulatory and other approvals. Investor attention is also shifting towards REC’s upcoming board meeting scheduled for October 26, 2026, to consider the financial results for the quarter and half-year ended September 30, 2026, along with a possible second interim dividend for FY27. In Q1 FY27, REC reported consolidated net profit of approximately ₹4,193 crore, while its net interest margin stood at 3.34%, reflecting continued strength in its power-sector lending operations. Going forward, investors will monitor the Q2 earnings, potential dividend announcement and progress towards completing the PFC merger. The consolidation could offer opportunities for greater scale and operational efficiency, while regulatory approvals, integration plans and future lending growth will remain important factors influencing REC’s stock performance.

REC Limited: Q2 results and interim dividend in focus

RECLTD REC Limited (RECLTD) is scheduled to announce its Q2 FY27 results on Monday, 26 October 2026. The board will also consider a second interim dividend for FY27. <Link url="***** title="Source: Economic Times company announcements"/> Previous quarter snapshot Q1 FY27 revenue was approximately ₹14,296 crore. Net profit was approximately ₹4,149 crore. Net interest margin stood at approximately 3.34%, below the company’s previously stated 3.5%–3.75% range. <Link url="***** title="Source: Q2 preview and historical figures"/> Why this quarter matters REC finances projects across the power sector, including generation, transmission and renewable energy. Investors will look for loan-book growth, stable asset quality and a recovery in net interest margin. What to monitor Net interest income and net interest margin. Loan-book growth and prepayments. Asset quality and borrowing costs. The board’s decision on the interim dividend. Updates on the proposed REC–PFC merger. My analytical view REC’s Q2 numbers should help clarify whether profitability and loan growth are gaining momentum. A dividend decision may attract attention, but sustainable earnings, funding costs and asset quality remain more important to the long-term outlook. Risk: Interest-rate movements, funding costs, borrower concentration and merger-related uncertainty could affect performance. SEBI RA Disclaimer: Umang Rajesh Bhutada is a SEBI-registered Research Analyst (INH000023001). This content is for educational and informational purposes only and is not investment advice. Securities investments are subject to market risks. Please consult a qualified financial professional before making investment decisions.

Power Finance Corporation: Signs of a Recovery

Power Finance Corporation (PFC) is showing signs of a short-term recovery after a prolonged decline. The stock closed at ₹337.90, gaining 3.08% in the latest session. On the daily chart, the price has moved above the 10 EMA at ₹329.62 and the 20 EMA at ₹335.17, indicating improving short-term momentum. The RSI has recovered to 48, suggesting a gradual improvement in buying strength, while the MACD histogram has turned positive, hinting at a potential bullish crossover. However, the stock is still trading below the 50 EMA at ₹355.59, 100 SMA at ₹390.32 and 200 SMA at ₹399.37. The ADX at 44.31 indicates a strong prevailing trend, so confirmation of a sustained reversal is important. Key Levels: Immediate support lies around ₹328–330, followed by ₹315–320. Resistance is placed near ₹345–350, followed by the 50 EMA zone around ₹355–356. A sustained move above ₹356 could strengthen the recovery, while a break below ₹328 may weaken the current momentum. My View: PFC is showing early signs of a technical rebound, supported by improving momentum indicators. However, the broader trend remains weak until the stock reclaims its major moving averages. Existing investors may monitor the ₹328–330 support zone and price action near ₹350–356 for signs of continuation or renewed selling pressure. Disclosure: Disclosure: I or my family members do not hold any shares of PFC at the time of writing. This article is for educational purposes and reflects technical analysis, not personalized investment advice. PFC

PFC Completes Sale of Satara TransmissionSPV to Adani Energy

PFC Power Finance Corporation (PFC) has completed the sale of its wholly owned subsidiary and special purpose vehicle, Satara Power Transmission, to Adani Energy Solutions, the successful bidder. The transfer was made for a consideration of around Rs 19.01 crore. Satara Power Transmission was set up to develop the transmission system for the Network Expansion Scheme in the Western Region, which will serve the pumped storage potential near Satara of up to 4,500 MW (Part A). PFC provides financial assistance to power utilities to meet the financing and development needs of the power sector. How to read the deal It's a tariff-based competitive bidding (TBCB) handover, not a conventional asset sale. PFC's consulting arm sets up the SPV, runs the bid process, and transfers the SPV to the winning bidder. The Rs 19.01 crore most likely reflects recovery of SPV and bid-process costs, so it is not a sale price for the project's value. The release doesn't break this down, so treat that as an inference. Disclaimer: Investments in securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. The above information is for educational and learning purpose. They analyst or his associates do not hold any shares of the company and have no financial interest in it. SEBI Registered Research Analyst: Vineet Ashwinikumar Chawla: INH000008190, BSE Enlistment No: 5433

ADANI ENERGY SOLUTIONS: ACQUIRES 100% STAKE

ADANI ENERGY SOLUTIONS: ACQUIRES 100% STAKE IN SATARA POWER TRANSMISSION ADANIENSOL • Adani Energy Solutions Limited (AESL) has entered into a Share Purchase Agreement with PFC Consulting Limited (PFCCL) on October 6, 2026, to acquire 100% equity shares of Satara Power Transmission Limited (SPTL). • The acquisition is part of AESL’s strategy to create shareholder value through both organic and inorganic growth opportunities. • SPTL is planned to facilitate an additional 765 kV inter-regional transmission corridor between the Southern Region (SR) and Western Region (WR) grids. • The project will also enable additional renewable energy power evacuation from Karnataka, supporting the integration of renewable capacity into the grid. Impact: Positive — The acquisition strengthens AESL’s transmission portfolio and expands its capabilities in inter-regional power transmission and renewable energy evacuation.

PFC: What the REC merger could change for the company

PFC # PFC: What the REC merger could change Power Finance Corporation Limited and REC Limited have approved a merger scheme under which REC would merge into PFC. The combined entity would have an aggregate loan book of more than ₹11 lakh crore. **What is changing:** The proposed transaction is designed to create a larger government-owned power-sector financing institution. Under the approved scheme, REC shareholders would receive 88 PFC shares for every 100 REC shares, subject to the scheme's conditions and a future record date. Scale is the obvious benefit. PFC already has a major position in power-sector financing, while its renewable-energy book exceeded ₹80,000 crore in FY25. The combined balance sheet could provide greater capacity to finance conventional power, renewable energy, transmission, distribution and emerging energy infrastructure. But size alone does not create value. A larger loan book also means greater exposure to credit quality, funding costs and concentration within the power sector. The merger is therefore worth studying from a capital-allocation perspective. Investors should look beyond the headline ₹11 lakh crore loan book and track whether the combined entity can maintain asset quality, optimise funding costs and generate adequate returns on its expanded capital base. * **My view:** The merger could materially change PFC's scale, but the real test will be whether the larger platform improves efficiency and capital allocation rather than simply creating a bigger balance sheet. **What I'm watching:** merger approvals, loan growth, asset quality, cost of funds, renewable financing and return on equity. **Stance:** For PFC, the merger makes scale an important part of the story, but execution and post-merger efficiency will determine its financial impact. **Disclosure:** I am a SEBI Registered Research Analyst. Please refer to the applicable disclosures before taking any investment decision.