Buy RCF, target Rs 49: Kunal Bothra

Kunal Bothra, Head - Advisory at LKP recommends a buy rating on RCF with a target price of Rs 49 and a strict stop loss placed at Rs 44. The stock has slumped 16 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

RCF is a low beta stock (0.80) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 45.18, Rs 42.13 and Rs 44.75, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 13.41 and P/B of 0.95.