Stay invested in RIL: Phani Sekhar

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Stay invested in RIL: Phani Sekhar

Stay invested in Reliance Industries (RIL), says Phani Sekhar of Angel Broking.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Phani Sekhar See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 17/02/12 Are Mutual Funds betting on Reliance?

Stay invested in Reliance Industries (RIL), says Phani Sekhar of Angel Broking.

Sekhar told CNBC-TV18, "It's a good time that RIL is looking at overseas acquisitions because unlike some other acquisition done by other leading groups in India especially in the commodities space, which happened at the peak of the cycle, this seems to be a good time. Apart from that it's a bit of a conjecture today to talk about what kind of upsides can be there primarily because the deal is not done and all upsides would depend on what price is being made to acquire the company."

He further added, "Having said that as it was pointed out in the earlier segment that this looks like a good strategic fit as far as Reliance is concerned and if you assume that reasonable price is being paid by Reliance because their track record of acquisitions has been good, then I think the upside for Reliance share holders can be also good and going forward also. So if not this deal, some other deal I think will happen in the 12-18 months because as longer term share holders of Reliance they should now look at not when the deal will happen but whether it will happen and the answer to that seems to be yes. So, its good time to stay invested in Reliance and maybe accumulates more in Reliance."