According to Avinash Gorakshakar, Market Expert, one may buy Rural Electrification Corporation on dips.
Avinash Gorakshakar, Market Expert told CNBC-TV18, "I would definitely buy Rural Electrification Corporation on declines and even at the current levels, if one has got a long-term view which ranges from at least 12-18 months."
He further added, "I would suggest that one should at least accumulate the stock even at current levels and take increase the position slightly because the kind of numbers which are likely to come from most of these power distribution companies, especially Rural Electrification Corporation (REC), our sense is that FY17 will be a much better year and more importantly, with the kind of power reforms the government has added, REC would definitely give better returns if the time horizon is slightly longer. So, I would suggest buy on declines at the current level and hold on."
Sandeep Wagle of powermywealth.com feels that Rural Electrification Corporation may test Rs 280.
Sandeep Wagle of powermywealth.com told CNBC-TV18, "For Rural Electrification Corporation (REC) I would talk of a target of Rs 280. Some more upside from the current levels. I do not think it will break Rs 175 on the downside, so that will be my stoploss, a little below that and Rs 280 is where one should book out."
Source/Credit - Moneycontrol.com