Edelweiss has buy call on REC with a target price of Rs 158. The current market price of REC is Rs 146.2.
REC Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 29130.04 Crore) operating in Term Lending Institutions sector.
Financials
For the quarter ended 30-09-2020, the company has reported a Consolidated sales of Rs 8839.64 Crore, up 9.06 % from last quarter Sales of Rs 8105.23 Crore and up 19.35 % from last year same quarter Sales of Rs 7406.72 Crore Company has reported net profit after tax of Rs 2194.90 Crore in latest quarter.
Investment Rationale
REC has given a breakout above its previous swing high of Rs 146. Prices taking support at shorter term moving averages is also a sign of bullishness.
