Reliance Industries can go above Rs 800: Baliga

Baliga told CNBC-TV18, "I think Reliance Industries is good for more than Rs 800 and I think clearly the bottom has moved up. Earlier Rs 700-720 was a good bottom for Reliance, which has moved to levels of about Rs 750-760. I suppose the next big trigger for Reliance would be the gas pricing post 2014. I think that is something to be look forward to."

He further added, "I also feel that the petchem margins have bottomed out and I think in the next quarter you will see that petchem margins are moving up. Refining margins have already moved up, we have seen the Singapore refinery margins moving upto USD 7.75-8 and clearly with the premium, which Reliance gets, I suppose next quarter results be much better than what we have seen last time."