Reliance Industries may rally to Rs 950-960, says Bhat

Reliance Industries may rally to Rs 950-960, says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Bhat told CNBC-TV18, “In terms of Reliance Industries results I do not think that is going to be anything dramatically different. I think the refining margins are still where they were in the previous quarter and probably overall we are expecting about 7-8 percent growth is what I understand.”
He further added, “The entire eyes and the focus will still be on whether the gas price increase will come sooner than later and probably the volume which has shrunk so much whether that can really scale up significantly back to around 45-50 levels or something on those lines that the company can talk about. So it is lot of news driven kind of stock Reliance has become at the moment. So yes, I would still say that from the current levels Rs 950-960 looks very much possible.”