Buy REC, target Rs 150: Shubham Aggarwal

Shubham Aggarwal of Quantsapp Advisory has a buy call on REC Ltd. with a target price of Rs 150. The current market price of REC Ltd. is Rs 140.95. Time period given by the analyst is Intra Day when REC Ltd. price can reach the defined target. Shubham Aggarwal recommended to keep stoploss at Rs 136. REC Ltd., incorporated in 1969, has a market cap of Rs 27836.47 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 30-06-2019, the company has reported a Consolidated sales of Rs 6975.42 Crore, up 6.44 % from last quarter Sales of Rs 6553.37 Crore and up 21.61 % from last year same quarter Sales of Rs 5736.01 Crore Company has reported net profit after tax of Rs 1502.65 Crore in latest quarter. The company’s top management includes Dr.Arun Kumar Verma, Dr.Bhagwat Kishanrao Karad, Mr.A Krishna Kumar, Mr.Ajeet Kumar Agarwal, Mr.Praveen Kumar Singh, Mr.Sanjeev Kumar Gupta, Mrs.Asha Swarup, Prof.T T Ram Mohan. Company has S K Mittal & Co. as its auditoRs As on 30-06-2019, the company has a total of 1,974,918,000 shares outstanding.