The rally for Reliance Industries can continue: Shashank Khade, Kotak Securities

In a chat with ET Now, Shashank Khade, VP, Portfolio Management Services, Kotak Securities shares his views about Reliance Industries.

ET Now: What is your call on Reliance Industries?

Shashank Khade: Reliance had got disproportionately punished in the last two months and given the fact that valuations were looking a bit attractive, there had to be a rally in Reliance. Having said that, it all depends on how the global macro pans out because the petrochemical business will be linked to how the global macro shape up.

Any increase in gas volumes and the timing of that will determine the future course in terms of this stock. So, in the shorter term, a large portion of this rally, which we have seen has been because of shorts. It was a mix of a lot of these factors, which has led to this rally and of course this rally can continue further given the fact that valuations are still a bit attractive.