Buy Reliance Industries for long term: Gopi Suvanam

Gopi Suvanam of InvestWorks told CNBC-TV18, "I would recommend Reliance Industries for a long-term investor. I believe there is good potential for growth given all the deregulations that are expected and given pickup in growth that a lot of people are expecting. I believe it could double in the next three years, so that could be a good investment and the entry point also seems reasonable at the moment because it hasn’t gone up as much as other stocks have."

At 10:06 hrs Reliance Industries was quoting at Rs 1,020, up Rs 1.25, or 0.12 percent. It has touched an intraday high of Rs 1,024.10 and an intraday low of Rs 1,012.60.

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group