India's REC drops to three-year low on Q2 profit fall

REC

Yesterday 08:04

** India's REC RECM.NS drops 4.9% to three-year low of 285.8 rupees
** State-owned power financier's profit drops 21.2%, revenue rises 0.5%
** Motilal Oswal Financial Services says profitability impacted by sharp rise in operating expenses and margin contraction
** More than 12 million shares change hands, ~1.8x of 30-day average daily volume
** Stock rated "buy" on average by 12 brokerage firms, median PT at 419 rupees, per data compiled by LSEG
** YTD, RECM down 20%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))