REC, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 29689.60 Crore) operating in Term Lending Institutions sector.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 9964 Crore, up 4.82 % from last quarter's Total Income of Rs 9506.06 Crore and down 0.92 % from last year's same quarter Total Income of Rs 10056.53 Crore. Company has reported net profit after tax of Rs 2732.12 Crore in latest quarter.
Investment Rationale
Within the midcap PSU stocks, the brokerage remains constructive on REC as it has registered a breakout above a falling supply line joining highs of October 2021 (Rs 126) and August 2022 (Rs 109) signalling end of the corrective phase and resumption of up move.
Promoter/FII Holdings
Promoters held 52.63 per cent stake in the company as of 30-Sept-2022, while FIIs owned 23.41 per cent, DIIs 11.99 per cent.
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