Rajesh Jain, Director & CEO at Pranav Securities believes that REC has been offered at a good price. It is excellent pedigree and leaves some upside on the table for investors. It is certainly an issue worth subscribing to, he said.
Jain told CNBC-TV18, “Rural Electrification Corporation, REC is a nice issue. In fact it could undo a lot of the damage that may have happened because of the lower than expected listing of Reliance Power. I personally think REC is on to a great business.
He further added, “There is just one question mark on whether it would continue to have the benefit of cheap money coming in from the tax waver on capital gain bonds. Once you take that bit of a rider out of the issue, it has been offered at a good price. It is excellent pedigree and it leaves enough on the table for investors. It should soon find itself in the same league as an IDFC or a Power Grid, so it is certainly an issue worth subscribing to.”
Source: Moneycontrol.com
Tuesday, February 19, 2008
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