PFC REC may be valued upwards

Psu Connect Date: 10-01-17

MUMBAI. Even as many frontline stocks of non-banking financial companies (NBFCs) struggled to maintain their yearly gains in 2016, Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) managed to defy the trend, closing the year with 36 and 24 per cent gains, respectively. This comes after both underperforming the Sensex in 2015 and both touching a two-year low in February 2016, after many questioned their road ahead. What really stands out is their outperformance relative to Sensex in 2016, which was backed by financials, especially from June quarter.

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