Buy Reliance Industries: Rajesh Agarwal

Buy Reliance Industries, says Rajesh Agarwal, Head - Research, Eastern Financiers.

Agarwal told CNBC-TV18, "The price at which Reliance is available right now is quite attractive after the kind of battering we have seen in the stock. There are whole of concerns about production in KG D-6 basin and other things but still going by the last quarter numbers, the numbers were quite good around 12-13% jump in bottom-line. USD 10.3 GRMs and we feel that going forward also the GRMs are going to be maintained and the margins in the Petchem business is going to be maintained at the current levels."
He further added, "Not to forget the BP deal which has been concluded in the very recent past, this deal is going to help both the companies in operational efficiencies- Reliance would be a bigger beneficiary in its operations. So I think one should definitely add to this stock, not only add if new investors wants to buy this stock it is a good buy at these levels, with a price target of Rs 1050 in the next 12 months."