Buy Reliance Infrastructure, target Rs 565: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst, LKP Securities recommends a buy rating on Reliance Infrastructure with a target price of Rs 565 and a strict stop loss placed at Rs 520. The stock has lost 7 per cent so far in the calendar year 2016. The stock is looking bearish on the charts.

Reliance Infrastructure is a high beta stock (1.87) and is trading well above its 50-day, 100-day and 200-day moving averages at Rs 531.97, Rs 501.94 and Rs 445.6 respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 8.41 and P/B of 0.51.