Add Reliance Industries, says Deven Choksey

Deven Choksey, MD at KR Choksey Shares and Securities told CNBC-TV18, "Reliance Industries - having invested major in to the telecommunication business, having completed the capex cycle particularly in retail business, now the investment is flowing largely in the areas of petrochemicals and in the refining business. So, to a greater extent we will be seeing the fruits of these investments from petrochemical and refining somewhere in 2016, 2017 and thereafter. But more importantly I think the fruits could start coming in from the areas including the telecommunication from next financial year onwards."

"I believe that Reliance with six distinct business verticals in their portfolio is becoming a much larger company and going forward this could be a big business opportunity as far as the conglomerate kind of a shape is concerned for Reliance. To a greater extent I believe that these are all the activities which will yield the fruits in subsequent period of time," he added.

"It's a time when the stock is available at around 12-13 times forward PE which could be a good time to accumulate this stock into the portfolio. I believe there may not be too many things available in the near term to talk about for Reliance as far as the profit growth is concerned but to a greater extent keep an eye on shale gas price and the shale gas decision which maybe taken by the government ultimately to walk along with USA, in which Reliance has a significant presence in the American market."

"These could be one more trigger which could come up going forward. We will discuss this issue more when we learn certain things about it but as of now we believe that these are the areas on which the company holds higher potential. So, it can be considered for adding into the portfolio. Average it into the portfolio at current levels as well," he said.