First Global negative on Reliance Industries

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First Global negative on Reliance Industries

Shankar Sharma, VC & Joint MD of First Global is negative on Reliance Industries.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Shankar Sharma See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 10/02/12 Are Mutual Funds betting on Reliance?

Shankar Sharma , VC & Joint MD of First Global is negative on Reliance Industries .

Sharma told CNBC-TV18, "We have been negative on Reliance Industries for quite a while now; I see no reason to change that view. These occasional spikes keep happening as there is hopeful talk that the settlement might be reached and I am not an insider on that trade for me to know whether there will be or not. What I am more interested is knowing how the Supreme Court (SC) will interpret all the complexities around this and how will a court of law get into very detailed analysis of a business problem because typically courts are into issues of law rather than get into what is the cost of producing gas and stuff like that which even we analysts cannot figure out. So let us see how the SC takes this but I am no insider in this."