Buy Suryachakra Power for target of Rs 41: CD Equisearch

MUMBAI: Shares of Suryachakra Power Corporation were in the limelight Monday after the Climate Change Investment, Luxemburg (CCI) entered into an agreement with Suryachakra Group for acquiring 26.1 per cent stake in Suryachakra Global Enviro Power, at Rs. 28.98 per share.

“Surya Power has made double bottom on weekly and daily charts. One should buy it above Rs 21 for a target of Rs 27-34-41. Stoploss should be maintained at Rs 16,” Bhavesh Mehta, technical analyst, CD Equisearch.

At 1:30 pm, the stock was locked at 10 per cent upper circuit of Rs 21.35 on volume of 6.35 lakh shares.