Avoid Reliance Industries, says Dipan Mehta

Mehta told CNBC-TV18, “Reliance Industries could be a market performer at best and I think there are better stocks to invest at this point of time. With so much of uncertainty surrounding the stock I think investors are best slightly underweight or atleast just about equal market weight on the stock.”

He further added, “The triggers for Reliance would come when there is more clarity or when there is a scaling up of gas production or may be depending on how the rupee has impacted the performance one would like to see before making a more informed call on Reliance at this point of time. So, I would say that investors could kind of avoid the stock at this point of time and focus on some of the clear beneficiaries of this particular rupee depreciation or devaluation as one would say so.”