NSEHere's how stocks performed so far this year:₹₹₹₹Shares of REC Ltd. and Power Finance Corporation Ltd. (PFC) are trading with gains of as much as 11% on Monday, June 3.
Both the stocks, which are also the top gainers on the Nifty PSE index today, are trading at their respective all-time high levels.REC and PFC shares have gained 306% and 250%, respectively, in the last one-year period.
"With the stock breaking out above important resistances and forming a strong technical structure, it is expected to head towards the 560.00 and 575.00 levels.
It is advised to keep a trailing stop loss at the 535.00 mark," the Mehta Equities analyst said.
: The stock was trading at548.85, up 11.45% in today's session.
NSE
Here's how stocks performed so far this year:
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Shares of REC Ltd. and Power Finance Corporation Ltd. (PFC) are trading with gains of as much as 11% on Monday, June 3. Both the stocks, which are also the top gainers on the Nifty PSE index today, are trading at their respective all-time high levels.REC and PFC shares have gained 306% and 250%, respectively, in the last one-year period."With the overall trend being positive and the recent swing low support near the 580.00 mark, we expect the stock to head towards 600 - 605 as this rally continues," said technical analysts Riyank Arora of Mehta Equities on REC.Arora has advised traders to keep a strict trailing stop loss at the 580 mark for all active long positions on REC.In PFC's case, the stock has given a good breakout above its recent resistance mark of 524.35 on daily charts and is currently trading nearly 10% up in Monday's trading session, the analyst said."With the stock breaking out above important resistances and forming a strong technical structure, it is expected to head towards the 560.00 and 575.00 levels. It is advised to keep a trailing stop loss at the 535.00 mark," the Mehta Equities analyst said.: At 10:26 am, the scrip was trading 10.66% higher, at595.05. The stock has risen 40% so far this year.: The stock was trading at548.85, up 11.45% in today's session. On a year-to-date basis, PFC shares are also up nearly 40%.REC in a recent update said its board has approved raising the borrowing limit in foreign currency to $24 billion from $20 billion earlier.However, the overall borrowing limit in Indian rupees has been retained at6 lakh crore, as per the company filing dated May 31, 2024.The state-owned PSU will also raise up to1,45,000 crore through private placement. The funds will be raised, in one or more tranches, the company said.
