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."
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