RIL has target of Rs 1300-1400: Baliga

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RIL has target of Rs 1300-1400: Baliga

Reliance Industries (RIL) has target of Rs 1300-1400, says Ambareesh Baliga of Karvy Stock Broking.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ambareesh Baliga 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?

Reliance Industries (RIL) has target of Rs 1300-1400, says Ambareesh Baliga of Karvy Stock Broking.

Baliga told CNBC-TV18, "On Reliance Industries we have been bullish for quite a while although it's been in that range of Rs 1,800-2,200 and now the range will be Rs 900 to Rs 1,100-1,150 maximum. So in the short-term one need to play in that range but longer-term clearly we have our targets around Rs 1,300-1,400. Possibly once the acquisition is made and that goes through at a decent valuation then possibly we could see levels of Rs 1,700 ex-bonus."