Reliance Industries can touch Rs 735: Murlidharan

Reliance Industries can touch Rs 735, says Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL PReMIA.

Murlidharan told CNBC-TV18, "In Reliance at Rs 700 we have actually seeing some option based building as well. It is holding on good to the Rs 712-713 levels also. So we feel it can still inch up and we are seeing somewhere close to Rs 735 on that though we feel the stoploss should be only as low as Rs 705. So we are positive on Reliance till Rs 735 at least."
The company's trailing 12-month (TTM) EPS was at Rs 61.97 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 11.73. The latest book value of the company is Rs 446.11 per share. At current value, the price-to-book value of the company was 1.63. The dividend yield of the company was 1.1%.