Reliance Industries (RIL) has target of Rs 1000, says Rajen Shah, CIO, Angel Broking
Shah told CNBC-TV18, "We are extremely bullish on RIL because of what is happening in the oil and gas industry because of the new plans that the management has spoken about just a few days back about investing USD 5 million in KG basin. Also, we believe their retail business should be growing at more than 35 percent for the next four-five years. So, we have a target of Rs 1,000 for RIL by December this year."
At 11:59 hrs Reliance Industries was quoting at Rs 871.50, down Rs 3.85, or 0.44%. It has touched an intraday high of Rs 877.05 and an intraday low of Rs 863.55.
The company's trailing 12-month (TTM) EPS was at Rs 61.26 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 14.23. The latest book value of the company is Rs 504.65 per share. At current value, the price-to-book value of the company was 1.73. The dividend yield of the company was 0.98%.