Buy REC, target Rs 135: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on REC Ltd. with a target price of Rs 135. The current market price of REC Ltd. is Rs 124. Time period given by the analyst is Intra Day when REC Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 118. REC Ltd., incorporated in 1969, is a largecap company with a market cap of Rs 24488.98 crore.

REC Ltd. key Products/Revenue Segments include Interest which contributed Rs 22035.57 Crore to Sales Value (98.55 % of Total Sales), Income From Financial Services which contributed Rs 309.31 Crore to Sales Value (1.38 % of Total Sales) and Income From Sale Of Share & Securities which contributed Rs 13.39 Crore to Sales Value (0.05 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 5668.82 Crore, up 4.12 % from last quarter Sales of Rs 5444.59 Crore and up 3.76 % from last year same quarter Sales of Rs 5463.23 Crore Company has reported net profit after tax of Rs 1468.70 Crore in latest quarter. The company’s top management includes Dr.Arun Kumar Verma, Dr.Bhagwat Kishanrao Karad, Dr.P V Ramesh, Mr.Ajeet Kumar Agarwal, Mr.Aravamudan Krishna Kumar, Mr.Sanjeev Kumar Gupta, Mrs.Asha Swarup, Prof.T T Ram Mohan. Company has G S Mathur & Co. as its auditoRs As on 30-09-2018, the company has a total of 1,974,918,000 shares outstanding.