Buy RIL With Stop Loss Of Rs 2140: Karvy

Buy RIL With Stop Loss Of Rs 2140: KarvyKarvy Stock Broking Limited has maintained 'Buy' rating on Reliance India Ltd (RIL) stock to achieve an intraday target of Rs 2200.

According to Karvy, interested traders can buy the stock above Rs 2160 with a strict stop loss of Rs 2140.

The shares of the bank on Monday, (Nov 16), closed at Rs 2147.75 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 2490 and a low of Rs 1021 on BSE.

Current EPS and P/E of the stock stood at 90.71 & 23.38 respectively.

Mukesh Ambani made the following declarations during the company’s 35th AGM.
 
- Will struggle to augment efficiency across divisions.
- To carry on shining for tremendous efficiency.
- Bonus of 1:1 will improve RIL’s shareholding value.
- FY09 been momentous period for the company.
- Business conversion to drive expansion for the company.
- Have 5 transformational plans for the coming time.
- Has followed 5 pronged schemes to improve growth.
- Rs 194.71 billion is the current cash balance.
- To follow hard line oil & gas growth.
- RIL owns 99,000 km land area in Oman and Columbia.
- Capital expenditure of Rs 247.13 billion during the existing financial.
- Petro chemical stays the firmest in the world.
- Jamnagar daily capacity stood at 1.24 mn barrels.
- To make investment for generating capacity for synthetic rubber.
- To restart development in retailing business.
- Aim to speed up drilling in KG6 Cauvery basin.

The Project Management Institute (PMI), on Nov 16, honored RIL with the 'Best Project of the Year Award 2009' for effectively implementing highly advanced technology in KG D6 Deepwater Gas Field Development Project in Krishna-Godavari basin.

PMI said that the multibillion dollar mega investment project by the company was accomplished in spite of restrictions such as tense market situations, lack of rigs, installation vessels and competent work force plus intricate logistics.