The brokerage, however, reduced the target price to ₹525 from ₹590 as REC is expected to see mid-teen growth instead of the 20% forecast earlier. The revised target price offers 39% upside potential from Monday’s closing price of ₹378.
Sebi launches new verification agency to crack down on mis-selling
Sebi has launched the Past Risk and Return Verification Agency (PaRRVA) to combat mis-selling of investment products. This tech-driven system, linking credit rating agencies and