Reliance Capital Short Term Buy Call
Technical analyst Sanjay Surekha is bullish on Reliance Capital Limited and has maintained 'buy' rating on the stock.
According to the analyst, the investors can buy the stock on dips with a two-month target of Rs 570.
Mr. Surekha said that the stock can be purchased with a stop loss of Rs 490.
The stock of the company, on March 10, closed at Rs 524.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 881.90 and a low of Rs 428 on BSE.
Current EPS & P/E ratio stood at 14.56 and 36.41 respectively.
The financial services division of the country's ADAG, Dubai Reliance Capital is eyeing to strengthen its processes in the Middle East region via its office located in the Dubai International Financial Centre (DIFC) Mr. Sam Ghosh, Chief Executive of Reliance Capital, made this announcement on March 08.
Reliance Capital aims to swell its biz up to $1 billion (Dh3.67 billion) by 2014 and around $2 billion by the next five years - in the United Arab Emirates and GCC nations with extra concentration on wealth management and Sharia-compliant business enterprises.
Reliance Capital stated that its Sharia biz based in the Dubai market is increasing several fold and aims to notice noteworthy growth in asset management biz based out of Dubai by the next few years.
Reliance Capital registered an increase of 68% in its consolidated net profit on y-o-y basis for the three month period ended December 2010 to Rs 1.06 billion.
In the meantime, the company recorded decline of 8.05% in its consolidated total income on y-o-y basis to Rs 13.69 billion for the period under review.