Reliance Infra is a little expensive based on numbers: Independent International Investment Research

Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC in a chat with ET Now talks about Reliance Infra and the entire ADAG Group.

Give me a sense on one, Reliance Infra at 1061, would you go ahead and initiate a buy on this one or you would stay away considering the current controversy?

My general thing about the entire ADAG Group except for Reliance Communications is that their reporting numbers are not particularly good, so to do fundamental analysis, DCF and cash flow analysis on any of these stocks, a very difficult and so we have generally not initiated any coverage in any depth on any of these stocks including Reliance Infra.

We have looked at that, we found it expensive. When we dug deep, we have not found the numbers that are necessary to do an in-depth analysis, so that’s where we are. We find that stock a little expensive based on the numbers that have been reported.