Technical analyst Sailav Kaji of Fudiciary Euromax Capital Markets is bullish on Reliance Industries Limited and maintained 'buy' rating on the stock to achieve a target Rs 1090 in 2-3 trading sessions.

According to him, the interested investors can buy the stock with a stop loss of Rs 1050.

Today, the shares of the company opened at Rs 177 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1245 and a low of Rs 875.50 on BSE.

Current EPS & P/E ratio stood at 49.31 and 21.43 respectively.

Reliance Industries (RIL) announced a 19% increase in its net profit which stood at Rs 47.1 billion for the three month period ended March 31, 2010.

The company's total income increased 2.15 times to Rs 581.85 billion during the quarter from Rs 271.02 billion in the same period of 2009.

For the twelve-month period ended March 31, 2010, RIL recorded posted a consolidated net profit of Rs 158.98 billion as against Rs 152.96 billion for the year ended March 31, 2009.

Total income zoomed 34.47% to Rs 2,059.26 billion for the year ended March 31, 2010.

On a standalone basis, the company saw 3.83% growth in net profit at Rs 162.36 billion for the year ended on March 2010.

Its net sales soared 35.68% to Rs 1,924.61 billion for the year ended on March 2010.

On April 23, RIL made announcement about the closing of its recently announced Marcellus Shale JV deal with US-based Atlas Energy, of Pittsburgh, Pennsylvania.

Under the terms, Reliance will get hold of a 40% interest in Atlas core Marcellus Shale acreage position.

Reliance Industries (RIL), on April 17, said that the company has bought a strategic stake in captain Gopinath-founded logistics company Deccan 360 for an undisclosed sum.