Buy RIL To Achieve Short Term Target Of Rs 1120

Buy RIL To Achieve Short Term Target Of Rs 1120Technical analyst Ashwani Gujral is of the view that investors can buy Reliance Industries Ltd (RIL) stock to achieve a short-term target of Rs 1120.

According to Mr. Gujral, the investors will hold the stock with a strict stop loss of Rs 1060.

Today, the shares of the company opened at Rs 1088 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1245 and a low of Rs 859.50 on BSE.

Current EPS & P/E ratio stood at 46.90 and 23.20 respectively.

Reliance Industries Ltd (on April 17) has bought a strategic stake for a hidden sum in captain Gopinath-founded logistics company Deccan 360.

For its equity stake, RIL will get two seats on the 5-member Deccan 360 panel.

Reliance Industries (RIL), on April 23, said that it is also ready to become India's single-biggest money-making company in the existing fiscal, thanks to its second refinery at Jamnagar and KG basin gas.

In the recently announced Forbes Global 2000 list, RIL remained the top Indian company. It was positioned at 126 in the list.

Among 56 Indian biggies managed to find a place in the list include State Bank of India (130), ONGC (155), ICICI Bank (282), IOL (313), NTPC (341), Tata Steel (345), and Bharti Airtel (471).