BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains hold on Rural Electrification Corporation
REC missed Q4 earnings estimates due to increase in provisions towards existing non-performing assets. We pare out FY17 and FY18 earnings estimates by 22 and 29 per cent respectively given weakening loan growth and elevated provisions. Revise target price on the stock to Rs 170 from Rs 185 earlier.