Brokerage house CLSA has maintained buy for Reliance Industries with target price above Rs 2000. Reliance Industries was trading firm after the research report was released by CLSA. In its report, CLSA said that Reliance Industries is still having growth potential and the stock at its current P/E multiple is better investment option compared to other stocks.

As per CLSA report, the closure of $35 billion deals and start of pet coke gasification are the triggers for Reliance Industries. Reliance has recently announced its plans to reduce debt. The company is considering stake sale in some ventures to reduce its debt.

Reliance launched telecom services under Jio brand name and the company has caused a major disruption in telecom sector. Reliance has managed to increase its consumer base over last few quarters and other telecom companies operating in India are suffering major losses, both in profitability and market valuations. Jio has also managed to increase its average revenue per user.

CLSA considers Reliance Industries as an attractive GARP bet among the largecaps and ranks second only to IndusInd Bank on the basis of FY19-22e PBT growth, while despite being the growth leader, its PE is higher than only four other names.

Other research houses have also re-rated Reliance Industries. The company is looking forward to a strong quarterly result.