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Wednesday 30 May 2018

Update on PFC

Subsequent to our initial recommendation, stock had fallen to 71-72. Thereafter stock has bounced back to 80-82 levels. Main reason for underperformance of PFC is FIIs who have sold in cash segment more than 5.50 Cr shares this month. We feel that selling by FIIs is nearing its end. PFC can rise sharply in coming weeks. Hence we advise to HOLD at least upto June expiry

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