Target Price:-Rs243 CMP:-Rs201.80 We initiate coverage on Rural Electrification Corporation (REC) with a “BUY” recommendation and a target price of INR243 (12.8x PE of INR18.9 for FY11E). REC, a wholly owned public sector company, finances and promotes rural electrification projects across the country. Our recommendation is underpinned by REC’s robust prospects, given its mandate of financing [...] Related posts: |
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