The stock has gained momentum as the company is seen putting behind corporate governance issues that had impacted the company in the last 18 months and is well positioned to fund a plethora of green projects across the country.
The company provides non-fund based financial services adding value to green field and brown field projects at various stages of growth and development.
Recently, the company has received show cause notices by RoC imposed penalties of Rs 6.40 lakh and Rs 2.40 lakh on the firm and CEO, respectively.
The management believes that there will be no material financial impact on the state of affairs of the company.
On the issue of show cause notice by SEBI, the company said issues raised in SCN will be resolved and there will also be no material financial bearing impact on this account on the state of affairs.
PTC India Financial has said the newly appointed Director (Finance) and CFO has taken over the functions and responsibilities of the MD & CEO and replaced the previous chief Pawan Singh, who has been sent on compulsory leave by the central bank till his superannuation.“In the past few years, we have encountered various challenges, including power sector instability, the NBFC crisis, and governance matters. Nevertheless, our dedication to contributing to sustainable green infrastructure finance remains unwavering, as we adhere to the standard corporate practices and processes,” said a company spokesperson.
“We have taken measures to keep everything on the right track. Our journey is transformative, marked by a conscious shift of our portfolio towards sunshine sectors,” he added.
On Wednesday, the company’s shares closed 0.36% lower at Rs 27.40 on NSE
