Karvy Stock Broking Limited has maintained ‘Buy’ rating on Reliance Industries stock to achieve a target of Rs 2120 within 1-2 days.

According to Karvy, interested traders can buy the stock above Rs 2050 with a strict stop loss of Rs 2020.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 2130.
 
Today (June 22), the shares of the company opened at Rs 2061 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 97.08 and 20.30 respectively. The share price has seen a 52-week high of Rs 2490 and a low of Rs 930 on BSE.

The stock has great potential to rise on the back of healthy growth plans and strong operating capabilities.

Oil and Natural Gas Corp (ONGC) and Reliance Industries (RIL) are being said to be as the `mystery` bidders for UK-based Addax Petroleum that could be sold for about $8.26 billion.

While Sinopec and Korean National Oil Company are already thought to be in talks with Addax, `the company has been approached by a third mystery bidder, possibly a national oil company from India.

Reliance Jewels has decided to fortify its existence with 20-25 new stores in 2009-10. The company also eyes to turn into a leading player in the estimated Rs 40 billion Indian branded gems and jewellery market.

Centre today urged Reliance Industries (RIL) to sell natural gas to steel companies including Essar and Ispat from its eastern offshore KG-D6 fields to assist the country`s most prolific gas field to manufacture at an optimum level.