Reliance may hit Rs 1,000 by Dec-end: Rajen Shah, Angel Broking

In a chat with ET Now, Rajen Shah, Chief Investment Officer, Angel Broking, shares his views on Reliance Industries.

ET Now: What is your call on Reliance?

Rajen Shah: We have been extremely bullish on Reliance since the time the company commenced buyback and the average buyback price then was about Rs 727 to Rs 730. We continue to be bullish.

In fact, the growth is likely to be 35-40% that is what Mr Mukesh Ambani mentioned at the AGM and reasonable valuations. It is trading at hardly 10 times FY15 earnings.

There is no reason to be bearish on Reliance, it is a very bullish call on Reliance. In fact, we are looking at a price of beyond Rs 1000 for Reliance by December that is in the next four months itself.