Will wait for gas price issue to resolve beforbettin on Reliance: Gaurang Shah

In a chat with ET Now, Gaurang Shah, VP, Geojit BNP Paribas Financial Services shares his views on Reliance.

ET NOW: We had Ashwani Gujral and Mitesh Thacker recommending Reliance Industries, is that stock that you are also recommending to clients?

Gaurang Shah: No, it is trading very close to our initial target price of 970 and I would want to just wait out till the time the gas price issue is resolved. Anything position from that particular angle, from medium to long term point of view could not be very fruitful and favourable. Given the fact that we have that exploration space that you are speaking about, we do have a positive coverage on ONGC as of now so RIL we would just wait out till the time we have clarity.