Sudip Bandopadhyay, Market Expert told CNBC-TV18, "I think with Reliance Jio monetisation, market was factoring in the fact that one more quarter of free services was going to happen. That did not work out and Reliance has started charging. This is an excellent news for Reliance Jio and back of the envelope calculations, even if you assume 40-50 percent retention of customers on that 100 million which they are talking about, they are going to have a revenue anywhere between Rs 20,000-24,000 crore. So, that means they will become EBITDA positive. I think it is a great news." "Reliance Industries definitely is a buy at current level post correction definitely today. Also remember that the D-Mart retail IPO is round the corner, there is a large retail play sitting inside Reliance which is not again getting factored in by the market. So, I think a lot of good news on Reliance is going to come to the market in the next two to three months. So, it is a great buy," he said. "Also, the fact remains that most of the players are short, they don’t have adequate Reliance stock in their portfolio and they are scrambling to buy whenever there is an opportunity. So, overall there is a positive momentum building in the stock."
Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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