Amit Gupta bearish on Reliance Industries

Amit Gupta, Head- Derivatives, ICICI Direct is bearish on Reliance Industries.

Gupta told CNBC-TV18, "I am bearish on Reliance as the space is not looking that much good and I think the way Reliance has spend out over the last one month, it's not increasing at all because if you look at the consolidation of 2 years the final break down was from Rs 900 levels. From Rs 900 it fell to Rs 700 and again retraced towards Rs 900 
and eventually that became the 200 day moving average and very heavy call selling actually we saw around Rs 900."
The company's trailing 12-month (TTM) EPS was at Rs 66.81 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 11.54. The latest book value of the company is Rs 446.11 per share. At current value, the price-to-book value of the company was 1.73. The dividend yield of the company was 1.04%.