Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Reliance Industries Ltd with a short-term target price of Rs 2110-2180.

According to experts at Nirmal Bang, if the scrip maintains above 1980, then it’s a positive sign for the counter, resistance at 2045 if maintains above then it could rally upto 2110-2180.

The strong support level for the stock has been suggested at Rs 360.

Today (July 01), the shares of the company closed at Rs 2057.35 on BSE. The total volume of the shares traded stood at 1,150,312. The scrip hit an intraday high of Rs 2085 and an intraday low of Rs 1989.

Current EPS & P/E ratio stood at 97.08 and 21.19 respectively. The share price has seen a 52-week high of Rs 2490 and a low of Rs 934 on BSE.

Eliminating offer for talks, RIL on June 30 told RNRL that it would not sign any contract on the gas supply issue without authorization of the government.

It is discovered that RIL, which is believed to be preparing to move the SC this month, in a communiqué to RNRL mentioned that it had been advised that there was lack of clarity in the judgment on the aspect of the administration’s position in the matter.

Reliance Industries (RIL), on June 27, said that it is likely to sign a gas sales and purchase agreement (GSPA) with nationalized power major NTPC to supply gas at the government-mandated price of $4.2 per million metric British thermal unit (mmBtu).

The company will supply 2.67 million metric standard cubic metres on a daily basis (mmscmd) of gas from its Krishna-Godavari (K-G) basin for NTPC`s plants at Anta, Dadri and Faridabad in Uttar Pradesh.