Reliance looks safer: Choksey

Deven Choksey of KR Choksey Securities is of the view that Reliance Industries is looking safer.

Choksey told CNBC-TV18, "Reliance is looking safer than anything else because except for that tax proposal for which the stock remained little nervous in the last few days and some amount of shorting also took place yesterday. I think the fundamentals of this company are asking for a relook at this stock at current prices also. Maybe one will see a gradual re-rating back into this company and there will be upside because Rs 103-104 was last years earnings estimate and so at the estimated earning of around Rs 123-124 for the current year along with the gas business getting started, I would say that this is a company one should add to ones portfolio in this market and stay long in this company for a longer period of time to get the best out of the investment into the stock."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.