PFC may test Rs 170: Bhavin Shah

Bhavin Shah of Equirus Securities told CNBC-TV18, "Power Finance Corporation (PFC) has had a strong move. We would put a 15 percent upside from here. Our rational is that there are lots of steps taken by the government to revive the power sector. So, while one would see benefits flowing through various power sector companies and PFC is a key financer to the sector will also see an improvement in its performance."

"We see strong growth and valuation to continue and remain attractive and that is why we like PFC. Our target price is Rs 170, which doesn't suggest a big upside but historically the way the stock has traded there is a potential for it to go up further as well," he said. Disclosure: He covers the stock but he does not have any personal holding in it.