Buy PTC Ltd With Stoploss Of Rs 100: VK Sharma

Power Trading CorporationStock market analyst VK Sharma has maintained 'Buy' rating on Power Trading Corporation Ltd (PTC Ltd) to achieve an intraday target of Rs 112.90.

According to Mr. Sharma, interested traders can buy the stock between Rs 106.50-Rs 102.20

The support level for the scrip is at Rs 100.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 123.70.

The company's shares on Wednesday (Nov 04) closed at Rs 108.65 on BSE. The share price has seen a 52-week high of Rs 107 and a low of Rs 54.15 on BSE. Current EPS & P/E ratio stood at 5.39 and 20.85 respectively.

For the second quarter ended September 30, 2009, PTC India Ltd has registered a decline of 6% in its net profit to Rs 30.81 crore as compared to Rs 32.73 crore for the corresponding period of the last year.

The company's total income surged to Rs 2,475.70 crore for the quarter under review from Rs 2,059.33 crore for the quarter ended September 30, 2008.

PTC India is the top supplier of power trading solutions in the Indian market. It is a Government of India started Public-Private business organization, whose key focus is to build up a commercially vibrant power market in India.

PTC is the innovator in formulating and implementing the idea of power trading in India and has effectively demonstrated its effectiveness in optimally utilizing the subsisting infrastructure within the country to the benefit of all.