REC looks attractive: Sharekhan

Rural Electrification Corporation (REC) is looking attractive, says Hemang Jani, Sr Vice President, Sharekhan.

Jani told CNBC-TV18, "We were also looking at some of the PSU companies in particular REC which has corrected about 40-45% from the top mainly because of the concerns on the asset qualities to the SCBs and because of the regular FPOs that have seen. We have seen in that entire sector getting butchered."
He further added, "We think that overall financial parameters wise it is looking good, higher ROE of 21% and the exposure to SCBs where the asset quality is not good is not more than 4-5%. Recently there was a concall also by the management where they are saying that overall the concerns are exaggerated and we don