18 Aug 2018 | 9:41 AM
Research Report

Equity Research Report: Master Pick

REC provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects. The Company has reported healthy 11% increase in its net profit to Rs 1282.79 crore for the quarter ended June 2014. The steady loan book growth and improvement in margins and spread supported the earnings of the company.
27 Sep 2014 | 08:00 AM

After breakout from the inverted head & shoulder (bullish reversal) pattern in March, 2014, RECLTD had witnessed a sharp up move from 215 and formed a new 52 weeks high at 383.40 in just four months.

It has been witnessing profit taking for last two months and recently tested the major support zone around 230 on the weekly chart.

It rebounded swiftly from that zone and formed a fresh buying pivot. One can utilize this opportunity to accumulate between 248-CMP (255.15) with closing below stop loss of 230 for the target of 315 level.