Mehraboon Irani positive on Reliance Industries

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Mehraboon Irani positive on Reliance Industries

Mehraboon Irani, Principal and Head- Pvt Client Group Business, Nirmal Bang Securities is positive on Reliance Industries.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mehraboon Irani See what other Experts & Brokerages are saying about Reliance See messages about Reliance

Mehraboon Irani, Principal and Head- Pvt Client Group Business, Nirmal Bang Securities is positive on Reliance Industries .

Irani told CNBC-TV18, "As a trading strategy one needs to identify the underperformers and play this party right up, participate in this party right now. Whole lot of stocks have moved up too sharply but there are still some underperformers like Reliance or may be HUL right now over the last few days. So for all you know one fine day this stock will also make the move and take the indices up further. So, I think at the present level I would like to be positive on Reliance rather than be negative."

He further added, "The best two infrastructure stocks have gone up. BHEL would be a value play according to me with limited downside, but Larsen and Toubro has gone up a little bit too sharply. As regards to others, I think they have fallen too sharply, they have bounced back. It's a given rule in this market that whatever goes down too sharply, when the bounce happens they will also look very sharp, so it is that way. As far as infrastructure goes I think a long-long way to go because all will depend on the government finances and how the finance minister addresses the issue in the budget. But personally I feel some measures will be given for this company, but as regards to the financials of most of the names especially the midcaps in this particular space, I think its going to be a long haul for them to improve the financials."