Sunday 5 October 2008

Buy Reliance Industries: Vijay

Portfolio Manager, PN Vijay is of the view that one can buy Reliance Industries.

Vijay told CNBC-TV18, "I do not look at share prices and buy stocks generally. One needs to look at valuations; Reliance Industries is a good buy at the current levels. But today the markets being takeover by traders, so investors are running away; the gas production coming in, the refinery coming in, the resolution of the gas pricing; Reliance is a fantastic long-term buy. The refining margins are under pressure for the refinery things including Reliance. But I would still say at this type of pricing it’s a steal."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: MoneyControl

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.