'Diwali Offer' By Anil Singhvi: This largecap PSU stock can offer up to 46% return - Check Targets

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024, REC Share Price Target: Zee Business Managing Editor Anil Singhvi has picked a multibagger PSU stock under 'Diwali Offer'. According to Singhvi, this stock is available at a price-to-book (P/B) ratio of 1.5x.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: The stock picked by the Singhvi is REC Limited. Buy this largecap stock for targets of Rs 650, Rs 700 and Rs 800.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: The stock of REC closed at Rs 547.25 in the last trading session on the BSE. From here, the stock can give a solid return of up to 46 per cent.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: REC is one of the multibagger stocks and has given a solid return of 442 per cent in two years and 94 per cent return in one year. on a YTD basis, the counter has gained over 27 per cent.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: Here are some of the positives of this stock pointed out by Anil Singhvi

- Credit cost negative

- Strong AUM growth of 15 per cent in Q2FY25

- Target to grow AUM to Rs 10 lakh crore by FY28-29

- Steady improvement in books between FY13-23, net NPA near 0.8 per cent

- Management guidance for NIMs above 3.6 per cent

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: State-owned REC Ltd has posted around 7 per cent rise in its consolidated net profit to Rs 4,037.72 crore for the September 2024 quarter, mainly on the back of higher income.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: The total income of REC rose to Rs 13,706.31 crore in the quarter under review from Rs 11,684.89 crore a year ago.

Diwali Offer By Anil Singhvi, Stock To Buy on Diwali 2024: Meanwhile, REC said that Ratle Kiru Power Transmission has been incorporated as a wholly-owned subsidiary of REC Power Development & Consultancy Limited (RECPDCL).