Reliance Industries can go up 20-30%: Religare Capital

Reliance Industries can go up 20-30%, says Gautam Trivedi of Religare Capital Markets.

Trivedi told CNBC-TV18, "On Reliance Industries my analyst is not as positive as I am, but the fact is the government clearly in today’s press seems to be indicating that they are willing to workout a compromise and come to terms and sit down across table and work it out with Reliance and if that were to happen that will be a huge positive for the stock."

He further added, "In spite of the fact that the refining margins are doing well, petchem margins are doing well I think the single biggest block in the minds of the investor unfortunately is production at KG-D6. If there is a resolve on that I think the stock could definitely go up another 20-30 percent from these levels."