Buy REC, target price Rs 164: Yes Securities

Yes Securities has buy call on REC with a target price of Rs 164. The current market price of REC is Rs 155.05 Time period given by analyst is Intra Day when REC price can reach defined target.

REC Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 30630.98 Crore) operating in Term Lending Institutions sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 9215.76 Crore, up 1.39 % from last quarter Total Income of Rs 9089.46 Crore and up 16.60 % from last year same quarter Total Income of Rs 7903.56 Crore. Company reported net profit after tax of Rs 2073.39 Crore in latest quarter.


Investment Rationale
Swift recovery from cluster of support zone followed by positive follow through above Rs 155 warrants positive outlook for the stock.