REC rises 2%; Deutsche Bank maintains buy with target of Rs 155

REC rises 2%; Deutsche Bank maintains buy with target of Rs 155

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Share price of Rural Electrification Corporation (REC) rose 2.7 percent intraday Monday after foreign research house Deutsche Bank has maintained buy rating on stock with a target of Rs 155 per share.

Research house believes that book value impact was negative but coverage ratios has improved.

Loan growth is steady at 16 percent and share of renewables is picking up, it added.

It expect sharply lower credit costs in FY19 as coverage ratios now comfortable.

In the last 1 year the share price declined by 32 percent.

At 12:00 hrs Rural Electrification Corporation was quoting at Rs 113.75, up Rs 1.35, or 1.20 percent.

Posted by Rakesh Patil

courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/rec-rises-2-deutsche-bank-maintains-buytargetrs-155_11429621.html

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