Shares of Power Finance Corporation (PFC) rose over 5% to a new 52-week high of ₹467 on Thursday, driven by expectations of peak power demand as temperatures rise across India. The stock has surged approximately 29% in April alone, climbing from a low of ₹363.15 on March 30. This increase has also boosted PFC's market capitalization by over ₹34,270 crore to ₹1.54 lakh crore. The India Meteorological Department (IMD) has issued heatwave warnings, indicating that demand for electricity is likely to spike. JM Financial reported that while power demand peaked in early March, it cooled due to a rare weather disturbance. However, as this disturbance dissipates, a surge in demand is anticipated, especially with the onset of intense pre-monsoon heat expected in mid-May. Additionally, PFC and other state-owned non-banking financial companies (NBFCs) may benefit from the Reserve Bank of India's (RBI) proposed classification of Upper-Layer NBFCs based on asset size, which could enhance transparency in the sector. The recent restructuring announcement by Finance Minister Nirmala Sitharaman in the Union Budget further supports PFC's growth prospects.