Wait & Watch for Reliance Industries: Ajay Bodke, Prabhudas Lilladher

In a chat with ET Now, Ajay Bodke, Head-Investment Strategist & Advisory, Prabhudas Lilladher, shares his views on Reliance Industries Limited.

ET Now: What is the call on Reliance Industries?

Ajay Bodke: As far as the current quarter is concerned, our analyst are pretty cautious on the names in the oil and gas sector because they are expecting a contraction in GRMs on a quarter on quarter basis.

The fact that the refining capacity additions are outpacing demand in the region is also worrisome on the sector. Analyst are also expecting a decline in both the cracker margins and the polyethylene margins for the current quarter.

We are expecting Rs 1.65 lakh crores of under recoveries. So, all of us are waiting for the big bang reforms to be unveiled by the government over the next few weeks.