Reliance Industries is a hold: Parul Saini, Director, RBS

Parul Saini, Director, RBS, in a chat with ET Now talks about Reliance Industries.

As a house you do not like Reliance Industries why is that? Reliance had E&P issues but now the BP deal will hopefully solve them.

We had a sell rating on Reliance sometime back but we have upgraded Reliance to a hold. We do think the Petchem and refining cycles are turning. So that is one of the key reasons for the upgrade.

On the E&P side, we have taken into account BP’s investment into Reliance and given all that, we still have a price target of around Rs 960 to Rs 1,000 which is not offering that much upside. So, we have a neutral view on the stock rather than a strong buy. But, we have upgraded our rating from a sell to a hold.