RBI’s revised norms lift REC: Analyst sees breakout above ₹420
REC surged 3% after RBI eased project loan provisioning norms, reducing construction phase PCR to 1%. Analyst Navodit Tiwari sees this boosting margins and growth. He recommends buying REC above ₹420 (weekly close) with targets of ₹470-550+, citing bullish technicals and strong demand near ₹360-380.