Shares of specialty chemical company Pidilite Industries have broken out above the 50-SMA on weekly charts and could reach INR2,600 ($35) in price, according to analysts. While the stock is already near overbought levels and profit-taking is possible, the relative strength index is at 69.5 and MACD is bullish. The momentum saw the company break the 50-SMA for the first time since January, around which time it was consolidating around INR2,200. Pidilite Industries stocks are under a “structural bullish trend,” and could be accumulated in a range of INR2,472 to INR2,450 with a stop loss of INR2,400, according to the experts.
REC, PFC shares rally up to 3% after Morgan Stanley initiates coverage with overweight rating
The global brokerage has assigned a price target of Rs 485 for REC and Rs 508 for PFC, indicating potential gains of 23% and 21%,
July 10, 2025