Reliance Capital Intraday Buy Call

Stock market analysts have maintained ‘buy’ rating on Reliance Capital stock with an intraday target of Rs 1145. 

According to them, interested traders can purchase the stock above Rs 1126 with a strict stop loss of Rs 1095. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1178. 
Shares of the company, on Thursday (Sep 18), closed at Rs 1123.70 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 4219379. Current EPS & P/E ratio stood at 42.74 and 27.65 respectively. The share price has seen a 52-week high of Rs 2925 and a low of Rs 822.50 on BSE. 

The market analysts continue to like the company because of its exclusive business model, strong operating abilities plus its new exciting projects and healthy growth plans. 

The stock has been recommended after analyzing its last performances. So traders are advised not to sell the stock before achieving the target.

Reliance Capital, on Sep 17, announced that it has decided to invest around Rs 20 billion in its insurance business over the next 3-5 years. 

Moreover, the company also plans to foray into the banking, home loans and consumer finance businesses.

On Sep 17, Reliance Capital announced that it would set up a housing finance unit and a non-banking finance company for the consumer finance business.

Reliance Capital, on Sep 16, is all set to raise around $1 billion from foreign investors (FIs) for its initial attempt to enter the private equity business (PE).

In order to provide access, custody and execution in US markets for its clients, Reliance Money, the biggest broking and distribution house in India and part of the Reliance Anil Dhirubhai Ambani Group, announced a contract with NASDAQ listed optionsXpress Holdings.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Bajaj Holdings, JM Financial and KGN Industries.