Sacchitanand Uttekar of Motilal Oswal Financial Services told CNBC-TV18, "We have a buy recommendation on Reliance Industries. The stock has been consolidating for the last couple of weeks and this particular consolidation seems mature now. It can be participated with the stop loss at Rs 980 and we expect this particular stock to rally right up to Rs 1,080."
At 14:20 hrs Reliance Industries was quoting at Rs 1,001.15, down Rs 6.05, or 0.60 percent. It has touched an intraday high of Rs 1,011.45 and an intraday low of Rs 998.30.
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
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