Hold Reliance Industries: Gaurang Shah, Geojit BNP Paribas

In a chat with ET Now, Gaurang Shah, Asst VP, Geojit BNP Paribas Financial Services shares his views on Reliance Industries.

ET Now: What are you expecting from Reliance Industries today?

Gaurang Shah: Well as a disclosure first, we have a hold on the stock and our target is very close to that buyback offer of about Rs 870 odd.

GRMs will be better now and of course a lot will depend upon what the company has to say in terms of output which has been sluggish for a while now.

So, broadly speaking Rs 800-Rs 780 is the lower end of the band where Reliance would possibly trade. On the higher side, it will be somewhere close to Rs 870-Rs 875. I do not think there is going to be major outperformance.