Intraday Buy Call For Reliance Infra

Reliance-InfrastructureStock market analysts have maintained 'buy' rating on Reliance Infrastructure Ltd with an intraday target of Rs 1342.

According to them, interested traders can purchase the stock between Rs 1330-1332 with a strict stop loss of Rs 1315. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1355.

Shares of the company, on Thursday (Oct 08), closed at Rs 1331.15 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 49.03 and 26.88 respectively. The share price has seen a 52-week high of Rs 1373.70 and a low of Rs 354 on BSE.

Reliance Infrastructure announced that it has launched 2 road projects of Rs 7.60 billion in Tamil Nadu. It is said to be the foremost infrastructure projects to become functional from its stable.

Reliance Infra would finish and operationalize another 5 similar projects by the next 18 months.

Together with these projects, Rel Infra is presently carrying out 3 metro and 3 power transmission projects, overall comprising an investment of around Rs 250 billion.

Reliance Infrastructure, on Oct 2, said that it is considering offering shares of its newly launched arms publicly and looking to pull in strategic financial associates as part of value unlocking.

Out of 6 divisions formed as part of a demerger plan, yet to be sanctioned by the Bombay High Court, Rel Infra has decided to list at least the power distribution companies, Reliance Energy and Reliance Power Transmission, as well as its Metro projects.