Stock Report

PTC India Ltd comments on issues at NBFC subsidiary PFS

Posted On : 2022-01-20 17:43:06( TIMEZONE : IST )

PTC India Limited (PTC), the leading provider of power trading solutions in India, has commented on the ongoing issues involving its NBFC subsidiary PTC India Financial Services (PFS).

Commenting on the same, Dr. Rajib K Mishra, Director (M&BD) & CMD In-charge, PTC India Ltd., said, The Management of PTC India Ltd is committed towards corporate governance of highest standard in its functioning as well as of its subsidiaries. The interest of stakeholders are of prime concern and company would like to assure total transparency and ethical best practices.

The business practice & model of PTC & PFS have a proven operational track record with strong financials. We are closely monitoring the situation and observed that there are difference of opinion at operation & Board level of PFS on few issues. These issues are being looked into by a senior level committee of the company. We have taken initiatives to address the governance issues.

We are committed towards streamlining all operational processes and adopting best available practices of an NBFC. Maintaining highest ethical standard, all possible steps are being taken to induct reputed professionals to the Board of PFS for sustained future growth of the organisation.

Shares of PTC India Financial Services Limited was last trading in BSE at Rs. 20.95 as compared to the previous close of Rs. 25.65. The total number of shares traded during the day was 3330074 in over 8801 trades.

The stock hit an intraday high of Rs. 22.45 and intraday low of 20.65. The net turnover during the day was Rs. 71396232.00.

Shares of PTC India Limited was last trading in BSE at Rs. 100.55 as compared to the previous close of Rs. 112.80. The total number of shares traded during the day was 632595 in over 8667 trades.

The stock hit an intraday high of Rs. 109.00 and intraday low of 100.05. The net turnover during the day was Rs. 64975534.00.