Remain invested in Reliance Industries: Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We do have a positive coverage on Reliance Industries and very recently, we upgraded our target to Rs 1,550 if I am not mistaken from a long-term point of view. One of the triggers for that upgrade of course, was the realisations from Reliance Jio, expansion in petchem contributing and of course, refining business doing extremely well. If you are long-term investor, continue to hold on Reliance Industries."

Reliance Industries ended at Rs 1,384.10, up Rs 3.85, or 0.28 percent on the BSE.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.