Neutral on Reliance: Kimeng Securities

In a chat with ET Now, Jigar Shah, Senior VP and Head of Research, Kimeng Securities India Private Ltd, shares his views on RIL.

ET Now: What is the call on Reliance Industries?

Jigar Shah: The real issue is all about increase in gas production, which is not going to happen in a hurry. Therefore, whatever short term bounce may take place, it is ultimately not going to sustain because it is not going to be matched by a strong change in the fundamentals and the earnings. So I believe that there is a good amount of weight still there and we would not really see any rally sustaining. So it could be, more or less, a range bound stock.