Hold RIL With Target Of Rs 1100
Stock market analyst MB Singh has maintained 'hold' rating on Reliance Industries Ltd (RIL) stock with a target of Rs 1100.
According to analyst, the interested investors can buy the stock with strict stop loss of Rs 970.
Mr. Singh also said that RIL has strong resistance at Rs 1025.
Today, the stock of the company opened at Rs 990 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1184.70 and a low of Rs 915 on BSE.
Current EPS & P/E ratio stood at 53.01 and 19.11 respectively.
As per recent reports, Mukesh Ambani-led Reliance Industries Limited is all set to ink a gas supply deal with energy giant Essar Oil Ltd.
Under the pact, RIL will provide gas to Essar from its eastern offshore field, KG D6.
Moreover, RIL, on Sep 12, announced that it has completed acquisition of 60% equity stake in the US-based Marcellus Shale gas asset for approximately $392 million.
The company on August 5 declared that it would get hold of its third Shale gas asset in the US.
RIL's arm, Reliance Marcellus II LLC, entered into a definitive transaction deal to foray into a Marcellus Shale JV with the U. S.-based Carrizo.