Investors can look at buying Reliance from a long term perspective: Edelweiss
"When you are looking at Reliance, one should look at it from a slightly longer term perspective," Baliga said.
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In a chat with ET Now, Ambareesh Baliga, Managing Partner-Global Wealth Management, Edelweiss Financial Services, shares his view on Reliance Industries. Excerpt:
ET Now: What is your investment thesis in Reliance?
Ambareesh Baliga: When you are looking at Reliance, one should look at it from a slightly longer term perspective. I do not think there is a too much of a way out other than the gas price hike and that should happen sooner than later. Hence, whenever we have such adverse news flows like what we saw yesterday about that FII surely that is an issue by Reliance because it was quoting at much higher levels just a couple of weeks backs.
When you are getting at levels of closer to Rs 800, it was a clear buy. Whenever there is a correction, you should buy. At the current levels despite the move which you have seen today at Rs 820, it makes a lot of sense.
ET Now: What is your investment thesis in Reliance?
Ambareesh Baliga: When you are looking at Reliance, one should look at it from a slightly longer term perspective. I do not think there is a too much of a way out other than the gas price hike and that should happen sooner than later. Hence, whenever we have such adverse news flows like what we saw yesterday about that FII surely that is an issue by Reliance because it was quoting at much higher levels just a couple of weeks backs.
When you are getting at levels of closer to Rs 800, it was a clear buy. Whenever there is a correction, you should buy. At the current levels despite the move which you have seen today at Rs 820, it makes a lot of sense.
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