Buy RIL For Long Term

Buy RIL For Long Term Stock market analyst Avinash Gorakshekhar has maintained 'buy' rating on Reliance Industries Limited (RIL) stock with target of Rs 1180.

According to Mr. Gorakshekhar, the investors can purchase the stock at current levels with long-term target.

Today, the stock opened at Rs 1000 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1186.15 and a low of Rs 875.50 on BSE.

Current EPS & P/E ratio stood at 49.31 and 20.94 respectively.

In a shift, which will alter the cutthroat landscape between the Ambani brothers Mukesh and Anil, the scions have terminated all subsisting non-compete deals between their groups, framed during the Reliance re-organization in the year 2006.

They have inked a new and simpler non-compete agreement, which will assist them resolve the Krishna-Godavari gas argument.

The focus was now on an early cooperation of the gas purchase deal as directed by the Supreme Court.

The closing of the subsisting non-compete deal will provide higher operational and financial flexibility to both Reliance groups to participate in growth segments like oil, petrochemicals, telecom, power and financial services.

The boards of both RIL and Reliance ADA Group companies have given their sanction to the latest deal.