Reliance has target of Rs 1160: Edelweiss Capital

Reliance Industries (RIL) has target of Rs 1160, says Niraj Mansingka, Analyst, Edelweiss Capital.

Mansingka told CNBC-TV18, "If we get confirmation from Reliance Industries that the technical or the regulatory issues are sorted out, you will definitely be in upside on the earnings numbers probably 5-10% upside coming there. We have Rs 1160 price value for the company."

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 16.46. 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 2.52. The dividend yield of the company was 0.71%