Reliance Capital has target of Rs 360: Rajesh Agarwal

Reliance Capital has target of Rs 360, says Rajesh Agarwal, Head of Research at Eastern Financiers.

Agarwal told CNBC-TV18, "I think the deal is good. It has got decent valuation when compared to other deals done in the recent past and the best part is with the group in the problem this money is going to help them in coming out of some of their problems and I think this is a positive indication that the group is trying to come out of all their problems whether it is Reliance Communications or Reliance Capital, Reliance Power."
He further added, "I think Reliance Capital is going to move up from these levels maybe around to a level of Rs 360-370 in a very short-term. I think Rs 360 would be a fair target in next two months or so."