In its latest research report, Nirmal Bang, an equity research firm said that Reliance Ind, which has been consolidating between Rs 2060-2090 level, can give good returns in 4-5 trading sessions.

Nirmal Bang has advised investors to buy the stock around 2040-2010 to achieve a target price of Rs 2120.

The report further stated that, if the counter is successful to breach Rs 2132 levels, then it will hit Rs 2160

The stock has strong support at Rs 1980.

Today (Sep 09), the shares of the company opened at Rs 2064.95 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 94.07 & 22.71 respectively. The share price has seen a 52-week high of Rs 2490 and a low of Rs 930 on BSE.

With an intention to strengthen its sales in the European market, RIL (Mumbai) is reportedly raising the size of the company's trading group in London and looking for the availability of oil-storage capacity in Malta.

RIL, on Sep 08, told Gujarat that power users in the state may be laded with heavy bills because of power PSU NTPC's unwillingness in order to purchase relatively cheaper gas from it - an issue it had brought up with the Power Ministry during July 2009.

In a letter to the state principal secretary (energy and petrochemicals) S Jagdeesan on Sep 04, RIL Executive Director PMS Prasad stated that NTPC is presently purchasing natural gas on spot basis that could potentially boost the power cost by about Rs 1,500 crore annually.