Mukarram Bhagat of ASK Raymond James is of the view that Reliance Industries look good for long term.
Bhagat told CNBC-TV18, "I am little surprised by the kind of run-up in Reliance Industries because the results in terms of profitability etc were not all that great and going forward there are still issues on refining margins also petrochemical prices are softening on the back of lower crude prices. There are number of long-term triggers in it undoubtedly whether it is gas, whether it is retail or SEZ but those things are two-three years away."
He further added, "I am quite perplexed as to why the stock is running up so much. I didn't see any great result in the last quarter and in the current quarter also I am not expecting anything spectacular. It's a very good long term story; in fact in the short run I think the performance may not be all that great."
