Buy Rural Electrification Corporation Ltd For Target Rs. 530 by Motilal Oswal Financial Services Ltd

* Disbursements/AUM expected to grow ~16%/13% YoY.
* Margin is likely to contract ~5bp QoQ to ~3.6%.
* Expect credit costs to remain benign, aided by stress assets’ resolutions.
* Commentaries around margins and guidance on disbursements/AUM growth are the key monitorables.
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