Long Term Buy Call For RIL
Technical analyst Ashish Kukreja of Phinnacle Wealth Managers Pvt. Ltd has maintained 'hold' rating on Reliance India Limited (RIL) stock with targets of Rs 1150 and 1200.
According to analyst, the stock can achieve the target within a period of 6-12 months.
Today, the stock of the company opened at Rs 985 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1187 and a low of Rs 917 on BSE.
Current EPS & P/E ratio stood at 56.27 and 17.57 respectively.
As per reports, the natural gas fabrication from the company's East Coast block has came down by around 15% to approximately 45-46 mscmd as against 53-54 mscmd.
The manufacture from D-1 and D-3 gas areas in the KG-D6 block has decreased because of reservoir complications.
Moreover, the company declared that the crude distillation division No. 1 and coker facility at the Jamnagar Refinery complex, has been securely resumed on Nov. 17, 2010 and is operating in a satisfactory manner.
The Crude Distillation entity No. 1 and Coker plant were under planned closure for executing maintenance activities from last week of October this year.