Price Band (Rs) 160-185, Subscribe
Religare Enterprises Ltd ( REL ) is a financial services provider promoted by Ranbaxy group. REL is a holding company of 11 subsidiaries, which are engaged in offering diverse bouquet of services ranging from equities, commodities, insurance broking, wealth advisory, portfolio management services, personal finance services, investment banking and institutional broking. Valuations look attractive at P/E of 31.4-36.3x FY07 EPS of Rs5.1 when compared with the industry average. Given well-recognized brand name, strong retail distribution network and a strong growth history, we recommend Subscribe to the issue from a long-term perspective.
ä Retail branch network across pan India .
ä Well diversified product portfolio catering to retail, high networth individual, and institutional clients.
ä Competitive player with recognized brand name.
ä Aggressively tapping the online trading opportunity.
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