Reliance Industries has target of Rs 1250, says Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services.
Mehta told CNBC-TV18, "We do have a buy call on Reliance Industries and we have been aggressively pushing it to our clients since the last 1 or 2 months, as such the stock had underperformed the broader markets quite regularly in the last 1.5 years. But after the BP deal has been announced a lot of technological hassles have been solved for the company and also the ramp up in production from the KG basin will act as a fuel for the company going ahead."
He further added, "Also the petchem margins, which showed a marked improvement and the polyester price trend also showed that the company would do well from here on. So I guess Reliance Industries would be outperformer going forward and we do have a price started off around Rs 1250 for a one year horizon."
Mehta told CNBC-TV18, "We do have a buy call on Reliance Industries and we have been aggressively pushing it to our clients since the last 1 or 2 months, as such the stock had underperformed the broader markets quite regularly in the last 1.5 years. But after the BP deal has been announced a lot of technological hassles have been solved for the company and also the ramp up in production from the KG basin will act as a fuel for the company going ahead."
He further added, "Also the petchem margins, which showed a marked improvement and the polyester price trend also showed that the company would do well from here on. So I guess Reliance Industries would be outperformer going forward and we do have a price started off around Rs 1250 for a one year horizon."
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