Buy Reliance Industries; target of Rs 1200: Religare

The commercial launch of RJio today at RIL’s AGM puts to test its US $21bn investments in the telecom business. For the petchem and refining segments, the company’s US$ 14bn worth of pending projects seem to be on track for commissioning by Mar’17. While we see significant benefits from RIL’s investments in cyclical businesses (US$ 16bn), RJio’s earnings profile would be critical for its outlook. We maintain BUY rating on RIL on expectations of its core earnings surging from new projects. For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.