Reliance looks to rally on gas price hike, but may not outperform: Mehraboon Irani

In a chat with ET Now, Mehraboon Irani, Principal & Head-Private Client Group Business, Nirmal Bang Securities shares his views on Reliance. Excerpts:

ET Now: What is your call on Reliance?

Mehraboon Irani: After being underweight on the stock for over four years now, we have started to look at Reliance a little bit favourably. We think the announcement of hike in gas prices possibly could be the tip of the iceberg and a lot of other things clearly, could happen. I have always maintained that Reliance one fine day, will be a company which will go into a different orbit altogether and that day is coming.

So between now and April, when the gas price hike would actually happen, one may need to go and buy into Reliance and add it into the portfolio though in the same breath I wish to state that expecting the stock to outperform by a wide margin could lead to a disappointment, at least for one or two more quarters.