Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Reliance Industries Ltd (RIL) stock with a short term.

The report further stated that, if the counter is successful to breach Rs 2160 levels, then it will hit 2190-2215.

The stock has strong support at Rs 2110.

Today (Oct 06), the shares of the company opened at Rs 2139.70 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 94.07 & 22.68 respectively. The share price has seen a 52-week high of Rs 2490 and a low of Rs 930 on BSE.

The Supreme Court on Oct 01, denied interfering with the Bombay High Court verdict to permit RIL to alter its appeal linked to the gas clash with NTPC.

But, BHC permitted NTPC to file a reply to reject the claims, if any, pointed by RIL in its ameliorated written report.

The judiciary led by chief justice K G Balakrishnan also directed BHC to dispose of the matter in an efficient manner.

NTPC had moved the SC challenging the BHC's verdict, which permitted RIL to amend its petition on the gas dispute saying the administration's plan would render the deal with power PSU infructuous.

The power PSU had sought 12 mmscmd gas from RIL that had came forth as winner in a worldwide competitive offer quoting a value of $2.34 per mmBtu.