RIL can touch Rs 1,100 in near term: Ashit Suri

In a chat with ET Now, Ashit Suri, fundamental research analyst, JV Capital Services, talks about RIL's results.

What are your views on Reliance Industries' results?

The results have been a little better than estimates. Although the gross margins have been a bit lower than the March numbers, if you have to compare it with the Singapore complex, the spread has only increased, which augurs well. Oil and gas revenues as well as EBIT have been pretty high. Quarterly profits have been better than the last 11 quarters apparently. So, all these augur well. Although the petchem business in terms of revenue has also grown, in terms of EBIT, there has been a little slip up. But overall, it is a very satisfying pack of numbers and much better than the street was expecting. I see the stock to be positive and I am sure there is every possibility that Reliance would inch up from these levels and a near term Rs 1,100 on the price looks a good possibility now.