Amit Harchekar, IIFL is of the view that Reliance Industries (RIL) is expected to rally towarsd Rs 920-925.
Harchekar told CNBC-TV18, "Reliance Industries (RIL) has good potential to go up to Rs 920-925 where then it enters into major resistance zone. Even if we look into Indian Oil Corporation (IOC) the stock has given a fantastic breakout from a triple bottom formation and still needs projecting a target close to Rs 355-370 on the higher side. So we can expect some correction but overall trend remains bullish and any declines in this counter becomes a good buy from long-term perspective." RIL's trailing 12-month (TTM) EPS was at Rs 61.26 per share. (Sep, 2012). The stock's price-to-earnings (P/E) ratio was 14.65. The latest book value of the company is Rs 504.65 per share. At current value, the price-to-book value of the company was 1.78. The dividend yield of the company was 0.95%.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
