Thu, May 02, 2024
After REC's strong quarterly performance, brokerage CLSA maintained its 'buy' rating on the stock with a revised target of Rs 595 instead of Rs 560 earlier. The target implies an upside of more than seven per cent from Thursday's closing price. The brokerage suggests long-term investors wait for a correction in the stock, which has already run up more than 22 per cent in a week.
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Wed, Jan 24, 2024
REC shares soared over 7% after reporting a strong Q3FY24 with a 13.6% rise in net profit, reaching Rs 3,269.3 crore. Net interest income also grew 18% to Rs 4,159 crore. Further boosting investor sentiment, REC announced plans to lend up to Rs 1.2 lakh crore for rooftop solar installations under the Pradhan Mantri Suryoday Yojana, supporting the government's 10 GW target by 2026.
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