Buy RPL with one-year perspective: Vijay

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Investment Advisor, PN Vijay is of the view that one can buy Reliance Petroleum , RPL with one-year time frame.

Vijay told CNBC-TV18, "It is a fact that there has been heightened volume and price action in RPL. It has been lying in that Rs 110-115 level for a long time. But taking a slightly longer-term view, RPL is a great stock to buy and hold because they are doing so well. They have got one of the most efficient refineries in the world; probably they are commencing production ahead of schedule. Somewhere down the line, I guess there has to be a merger with the Reliance Industries itself. All things considered, it is a great stock. I don't know what the immediate prices action would be but on a one-year time frame, definitely it is a buy."