Reliance looks in a range from a 3-6 months perspective: ICICI Direct

Pankaj Pandey, Head of Research, ICICI Direct in a chat with ET Now talks about Reliance given the expectations of results.

What’s the sense in Reliance now? Results are expected just round the corner. In fact any kind of trade that you would recommend to clients to take for Reliance?

It is quite richly valued and we have not seen too much of a pickup in terms of refining margins also and going forward, we would expect at least one or two quarters it will more takein terms of improvement in refining margins, so till that time, from a shorter-term perspective, we will expect this stock to be in a range and probably from a longer-term perspective, yes, people can look at it. From a 3-6 month perspective, it looks like in a range.