Buy Reliance Industries: Rakesh Arora

Buy Reliance Industries, says Rakesh Arora, HOR-India at Macquarie Capital Securities.

Arora told CNBC-TV18, "We have retained our buy rating though Reliance is going through huge issues both seasonally and cyclically and their numbers were slightly below what we were expecting but largely the stock price is capturing all the negatives and I would tend to think that as and when the cycle picks up Reliance could deliver good returns but Reliance is exactly in a similar position where the market is, its not going anywhere in a hurry."
The company's trailing 12-month (TTM) EPS was at Rs 61.97 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 11.94. The latest book value of the company is Rs 384.66 per share. At current value, the price-to-book value of the company was 1.92. The dividend yield of the company was 1.08%.