Jitendra Mehta view on Reliance Industries

Reliance Industries is still in consolidation zone with some kind of positive bias, says Jitendra Mehta, Edelweiss.

Mehta told CNBC-TV18, "Reliance is still stuck in a trading range - Rs 1040 on the upper side and Rs 980 on the lower side. The Rs 60 trading band is still intact. The stock has yet to give a decisive record for anybody to really gung-ho about how long it can go, still in consolidation zone with some kind of positive bias."
The company's trailing 12-month (TTM) EPS was at Rs 59.95 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 17.08. The latest book value of the company is Rs 392.21 per share. At current value, the price-to-book value of the company was 2.61. The dividend yield of the company was 0.68%. Disclosure: Most of the stocks that we discussed here we would have recommended to our clients.