RIL investors uncertain over the D-6 field: Ambit Capital

You have been bullish on Reliance Industries of late, but Reliance is under performing. So what is the concern there — news, E&B business or valuations?


Andrew Holland: I do not think it is valuations. Valuations look compelling. I just think there is a lot of uncertainty over the D-6 field and there has been talk about them tying up with the people. We have not heard any news and I do not think there is a lack of news from Reliance really. There has been nothing positive and reading the papers everyday that there is still some outstanding issue with SEBI so may be that is just holding back the share price at the moment, but I am still hopeful that they will deliver shareholder value. It is about time but I think we have to clear of this whole issue of gas production and really what is happening with BPL. Once it comes out, we can clearly look at the valuations again but at these levels it is compelling to me.