PFC may touch Rs 340, says Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "In Power Finance Corporation Limited (PFC) we expect a target price of Rs 340 or higher in the short-term. We expect PFC and Rural Electrification Corporation (REC) which have given triangle breakouts to surprise over the next few weeks. I would go with both of them."

At 15:09 hrs Power Finance Corporation was quoting at Rs 295.40, up Rs 2.90, or 0.99 percent. It has touched an intraday high of Rs 299.90 and an intraday low of Rs 293.

Disclosure: Analyst would have trading positions in the stock