Tarun Lakhotia of Kotak Securities say the fair value estimate based on FY17 numbers is Rs 1,040 per share, which is valuing refining and petrochemical segments at 6 times EV/EBITDA.
Tarun Lakhotia of Kotak Securities feels that Reliance Industries may go to Rs 1040.
With crude around USD 60/bbTarun Lakhotia, oil and gas analyst, Kotak Institutional Equities expects FY16 EPS for ONGC to be around Rs 33 and that of Oil India around Rs 63.
Tarun Lakhotia, analyst, Kotak Institutional Equities is looking at an under-recovery of about Rs 17 per litre on diesel.