REC has target of Rs 212, says Anil Manghnani

REC has target of Rs 212, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "PFC and REC have crossed over the 50 day moving averages. They seem to be in a nice short term uptrend. For REC I think the major target would be Rs 212 which is the 200 day. For PFC the first range would be around Rs 174 to Rs 184."
The company touched its 52-week high Rs 383.00 and 52-week low Rs 155.00 on 09 Nov, 2010 and 04 Oct, 2011, respectively. Currently, it is trading -48.26% below its 52-week high and 27.84% above its 52-week low. Market capitalisation stands at Rs 19,566.50 crore.