PFC(Power Finance Corporation) is a key beneficiary of ongoing power sector reforms and may be at its lower side of fundamental value currently. Its poised for re-rating due to accelerated power sector reform and loan growth coupled with lower borrowing costs & stable assets in the days ahead.
Looking at the chart, technically, above 296-300 zone, PFC(CMP: 294) may target 313-320 zone immediately and sustain above that it may target 350 in the short term. Mid to long term target may be around 385 and 450 zone.
On the downside, 268-264 zone should be strong positional support and sustain below that came 242-232 zone.
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