Rs 3.50/Sh Dividend: Buy Maharatna PSU For TP Rs 680, Shares Gain 156% In 1-Yr: PL

Brokerage firm Prabhudas Lilladher has issued buy call to large cap Maharatna PSU REC Ltd shares with target price of Rs 680 per share. Current market price of REC shares on BSE is Rs 612.60 per share with gain of 4.04% in trade today. REC Ltd has a market capitalisation of Rs 1,61,679.95 crore. REC shares offered eye-catching returns of 156% in last 1-year. Board of REC Ltd on July 27 recommended Rs 3.50 per equity share dividend and fixed August 9, 2024 as the record date. Check details below:

Prabhudas Lilladher Gives Buy To REC Shares: According to the brokerage firm, "the stock has been consolidating for quite some time maintaining above the significant 50EMA zone of 580 levels and has sustained above the long term trendline support near 575 zone showing stability. Currently, has indicated a positive candle formation on the daily chart with improving bias to anticipate for further rise in the coming days. RSI is on the rise indicating positive trend reversal to signal a buy and with much potential upside visible. We suggest to buy the stock for an upside target of Rs 680 keeping the stop loss of Rs 570."

REC Ltd Dividend: As per the July 27, 2024 exchange filing, "declaration of interim dividend @ Rs 3.50/ - (Rupees Three and Paise Fifty only) per equity share of Rs 10 each for the financial year 2024-25. Further. the record date for the said interim dividend is Friday. August 9, 2024 and the said interim dividend shall be paidl dispatched on or before August 23,2024 to those shareholders, whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as on the close of business hours on August 9,2024 in respect of shares held in electronic form; and (b) as members in the register of members on August 9, 2024 in respect of physical shares."

REC Shares Performance & Return: The 52-week high price of REC shares on BSE is Rs 653.90 per share (as on 12/07/2024) and 52-week low price is Rs 230.60 per share (as on 01/09/2023), respectively. REC shares offered returns of 38% in last 6-months, soared 45% year-to-date (YTD), rose 465% in last 2-years, and gave return of 459% in last 3-years.

REC Bonus History: REC announced 2 bonuses since September 28, 2016. The last Bonus that REC declared was in the ratio 1:3 with ex-bonus date as August 17, 2022, according to Trendlyne.

About: REC is a Maharatna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of 22 offices across the country.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.