Buy REC, target Rs 136: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on REC Ltd. with a target price of Rs 136.0 . The current market price of REC Ltd. is Rs 127.3. 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 124. REC Ltd., incorporated in 1969, is a largecap company with a market cap of Rs 25140.71 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 31-12-2018, the company has reported a Standalone sales of Rs 6623.95 Crore, down -9.09 % from last quarter Sales of Rs 7286.17 Crore and up 21.09 % from last year same quarter Sales of Rs 5470.08 Crore Company has reported net profit after tax of Rs 1274.56 Crore in latest quarter. The company’s top management includes Dr.Arun Kumar Verma, Dr.Bhagwat Kishanrao Karad, Dr.P V Ramesh, Mr.A Krishna Kumar, Mr.Ajeet Kumar Agarwal, Mr.Sanjeev Kumar Gupta, Mr.T T Ram Mohan, Mrs.Asha Swarup. Company has G S Mathur & Co. as its auditoRs As on 31-12-2018, the company has a total of 1,974,918,000 shares outstanding.