Short Term Buy Call For RIL
Stock market analyst Salil Sharma is of the view that investors can 'buy' Reliance India Ltd stock with a short term target of Rs 1060.
According to analyst, the investors can buy the stock with stop loss of Rs 1035.
Today, the stock of the company opened at Rs 1045 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1186.15 and a low of Rs 875.50 on BSE.
Current EPS & P/E ratio stood at 49.31 and 21.01 respectively.
RIL has paid approx Rs 12,382 crore of unsecured loans during the last fiscal, lessening its arrears by about 15.5%.
The country's most valuable company had unsecured loans worth Rs18,256.61 crore in the fiscal 2006-07 that came up to Rs 29,879.51 crore in the fiscal 2007-08 and increased twofold to Rs 63,206.56 crore in 2008-09.
According to reports, RIL is making discussions to purchase a majority equity stake in JM Financial Asset Management Pvt Ltd.
JM Financial is the money manager operated by investment banker Nimesh Kampani.
It directs assets of Rs 8,569 crore in around 27 investment plans.
Talks are on the move for an agreement, which values JM Financial at approx 8% of its assets under management that equals Rs 685 crore.