Avoid Reliance Industries: Aditya Agarwal

Avoid Reliance Industries, says Aditya Agarwal, Sr. Derivative Analyst, Way2Wealth.

Agarwal told CNBC-TV18, "In Reliance we would not like to initiate any fresh trade. On higher side Rs 860-870 is the upper band for this stock. We are continuously seeing some profit booking in this counter. So from these levels stock will be in a range bound moment. From Rs 860-870 levels we will continue to see some profit booking. So if it comes to Rs 830-840 that would be a good time where one can initiate long position but as of now Reliance will be avoid."
The company's trailing 12-month (TTM) EPS was at Rs 61.97 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 13.71. 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 2.21. The dividend yield of the company was 0.94%.