Dec 10, 2008, 08.53 PM | Source: CNBC-TV18
Vibhav Kapoor of IL&FS Investmart is of the view that Reliance Industries has 10% upside from here.
Kapoor told CNBC-TV18, "A similar situation there also given the fact that it is a commodity sort of stock in one way because as oil prices keep on going down, it has a negative impact on refining margins as well as petrochemicals. So, I think the same situation holds there. The stock has been oversold. It is a leader, so if the market goes up, it will tend to rally a little more. So, I would say again another 10% from here – wait till that happens. Let the market show signs of peaking out and then book your profits or reduce your positions."
|Share Price Movement During The Last 12 Months|
|Period||Price||Latest Price||Gain/Loss (Rs.)||% Gain/Loss|
|Currently -62.26% below the 52-week high of 3,252.10|
|Currently 31.96% above the 52-week low of 930.00|