REC has target of Rs 240: Shanbhag

Rural Electrification Corporation (REC) has target of Rs 240, says Ganesh Shanbhag of SMS Financial Services.

Shanbhag told CNBC-TV18, "In Rural Electrification Corporation we are pegging a target price for one year of Rs  240." The company's trailing 12-month (TTM) EPS was at Rs 24.62 per share. (Dec, 2010). The stock's price-to-earnings  (P/E) ratio was 9.35. The latest book value of the company is Rs 112.21 per share. At current value, the price-to-book  value of the company was 2.05. The dividend yield of the company was 2.82%.