REC, IREDA, HPCL, MRPL, NTPC Green Energy and PFC Share Price was trading positive on Thursday as markets were trading in the green. REC jumped by nearly 3 percent and touched intraday high at Rs 416 by the time of publication of this report. IREDA shares were trading above Rs 150, up by 2.5 percent in early trades. HPCL, NTPC Green Energy and MRPL were among trading with gains. Overall markets were trading 0.3 percent positive. We can expect stability around current levels and if markets go up from here, we could see strength in banks and PSU stocks.

Macquarie Reiterates 'Outperform' Rating for REC and PFC

Shares of Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) were holding steady with gains on March 6, following a reaffirmation of their ‘Outperform’ rating by global brokerage Macquarie.

REC: Strong Upside Potential Despite Market Volatility
Macquarie has set a target price of Rs 700 per share for REC, reflecting a potential upside of approximately 72% from its previous closing price of Rs 405. The stock responded positively to the update, rising by nearly 3% to trade at Rs 412 during the session.

PFC: Maintains Strength with Optimistic Price Target
PFC also saw a 2% increase, trading at Rs 402 following the brokerage’s rating. Macquarie has maintained a target price of Rs 660 per share, implying a 65% upside potential from its last closing price of Rs 397.

Recent Performance and Market Trends
Despite the current rebound, both stocks have faced notable corrections over the past six months, mirroring the broader market downturn.

REC shares have declined 32% during this period.
PFC shares have dropped 26% over the same timeframe.
The reaffirmation of positive ratings and strong upside projections suggest that these stocks remain attractive for long-term investors, despite recent market volatility.

U.S. Weighs Tariff Exemptions for Select Industries, Boosting Auto Stocks

The United States is considering exemptions for certain industries from the recently imposed 25% tariffs on Canada and Mexico, according to U.S. Commerce Secretary Howard Lutnick. His statement on Wednesday sparked a rebound in auto stocks, which had plunged the previous day, as reported by the Financial Times.

Selective Tariff Relief Under Consideration

Lutnick revealed that President Donald Trump is evaluating which sectors may receive partial exemptions from the new tariffs, which took effect on Tuesday.

"What he's contemplating is which areas of the market could potentially receive relief," Lutnick stated in an interview with Bloomberg TV. He suggested that any exemption plan would likely be moderate, saying, "My own thought is it's going to be somewhere in the middle—not a full exemption for all industries, but not a blanket enforcement either."