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Mar 15, 2012, 12.08 PM IST | Source: Moneycontrol.com

Buy Power Grid Corp; target of Rs 116: IIFL

IIFL is bullish on Power Grid Corp and has recommended buy rating on the stock with a target of Rs 116 in its March 15, 2012 research report.

IIFL is bullish on Power Grid Corp and has recommended buy rating on the stock with a target of Rs 116 in its March 15, 2012 research report.

“Power Grid Corporation has given a breakout from descending trendline above Rs110 which has reinforced positive move in the counter. The stock has also managed to closed above two consecutive doji stars which appeared on Monday and Tuesday trading session confirming the range breakout. However this breakout remains valid as long stock sustains above the support of Rs110. We recommend buying Power Grid corporation below Rs110 with stop loss of Rs107 for target of Rs116.(Duration 7 days),” says IIFL research report.

FIIs holding more than 30% in Indian cos

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