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Feb 21, 2013, 12.17 PM IST | Source: CNBC-TV18

RIL has target of Rs 1000, says Rajen Shah

Reliance Industries (RIL) has target of Rs 1000, says Rajen Shah, CIO, Angel Broking

Reliance Industries (RIL) has target of Rs 1000, says Rajen Shah, CIO, Angel Broking

Shah told CNBC-TV18, "We are extremely bullish on RIL because of what is happening in the oil and gas industry because of the new plans that the management has spoken about just a few days back about investing USD 5 million in KG basin. Also, we believe their retail business should be growing at more than 35 percent for the next four-five years. So, we have a target of Rs 1,000 for RIL by December this year."

At 11:59 hrs Reliance Industries was quoting at Rs 871.50, down Rs 3.85, or 0.44%. It has touched an intraday high of Rs 877.05 and an intraday low of Rs 863.55.

The company's trailing 12-month (TTM) EPS was at Rs 61.26 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 14.23. The latest book value of the company is Rs 504.65 per share. At current value, the price-to-book value of the company was 1.73. The dividend yield of the company was 0.98%.

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