Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessStocksREC may correct up to Rs 200: SP Tulsian

    REC may correct up to Rs 200: SP Tulsian

    SP Tulsian of sptulsian.com feels that Rural Electrification Corporation (REC) may correct to Rs 200. "There is a profit booking, no more fresh buying which can make the stock to correct to a level of Rs 200," he adds.

    December 13, 2013 / 13:42 IST

    SP Tulsian of sptulsian.com told CNBC-TV18, "The kind of run up which we have seen in Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) in anticipation of the positives in respect to the state electricity dues and now that has already come out. The state governments have issued bonds to these companies and health of the financiers, whether you talk of the dedicated financial institutions like REC and PFC or the bankers seems to have got factored in.”

    He further added, “We have seen the topping out pattern happening on Monday. REC moved to a level of Rs 229-230 on Monday and since then it has been correcting. So there is a profit booking, no more fresh buying which can make the stock to correct to a level of Rs 200."

    first published: Dec 13, 2013 01:42 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347