Over the next 12 months, RIL could offer 15 to 16% upside: Avinash Gorakshekar

In a chat with ET Now, Avinash Gorakshekar, Head Of Research, Anagram Capital Ltd, talks about RIL.

ET Now: What is the call on RIL?

Avinash Gorakshekar: Definitely in the shorter term, Reliance is not going to show a big upside primarily because the gas upside is more or less capped but if you look at the medium to long term perspective, on the downside also, Reliance is a stock where as a house, one should accumulate on every decline. Over the next 12 months in a market like this, it could offer a reasonably 15% to 16% upside provided all the tickers which are expected, the telecom trigger as well as oil trigger the cross refining margins. Tomorrow we would be having Reliance numbers. Q3 numbers are more or less going to be in line with expectations but the overall market sense is that market will be liking to know what the outlook on the gas production volume ramp up which probably from April everybody is looking forward to. So in the near term, maybe the stock is not going to go anywhere. It is going to be plus or minus 5% but in the medium to longer term, we definitely continue to be positive. This is a time when one should really take a medium to long term call on Reliance. It has not been one of the stocks which have outperformed this year. 2011 one could see this outperformance coming out.