Power Trading firm, PTC India Ltd has registered a decline of 6 per cent in its net profit, which dropped to Rs 30.81 crore for the second quarter ended September 30, 2009, against Rs 32.73 crore for the quarter ended September 30, 2008.

However, the company's total income has increased from Rs 2,059.33 crore for the quarter ended September 30, 2008 to Rs 2,475.70 crore for the quarter ended September 30, 2009.

Vijay Bhambwani, a well-known technical analyst, is of view that PTC India can go upto Rs 120-125 in the coming one quarter.

Mr. Bhambwani stated during a recommendation call that, "PTC is showing signs of a breakout or attempting a breakout, but should it actually remain above the Rs 100 levels that will really force a lot of shorts to get squeezed and possibly even take it all the way to Rs
120-125 in the coming one quarter."

The stock of the company closed yesterday at Rs 98 on BSE. The counter has made 52-week-high and low of Rs 110 and Rs 43 respectively.