Buy Reliance Industries Ltd. target Rs 1165: Deutsche Bank Research

Deutsche Bank Research has a buy call on Reliance Industries Ltd. with a target price of Rs 1165. The current market price of Reliance Industries Ltd is Rs 1020.75. Time period given by analyst is year, when Reliance Industries Ltd. price can reach defined target. Deutsche Bank slashed RIL's 12-month target price marginally to Rs 1,165 from Rs 1,175 earlier. A strong profit growth led by robust refining performance is the key for RIL performance in forthcoming quarters. Strong refining margin this time drove highest ever quarterly profit in 1QFY17. Project start-ups to be the key catalyst for the stock, said the Deutsche Bank note. The global investment bank slashed its FY17 EPS by 2 per cent to factor in the delay in the ramp-up of the petcoke gas project.