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Reliance : Opportunity for long term investors due to current weakness

This article was posted on Dec 24, 2014 and is filed under Market News

Due to knee-jerk reaction to the falling oil prices, Reliance Industries saw its stock price fall more than 11%. In the past few days, the stock has gained some lost ground but still it is trading at sub- Rs. 900 levels, which makes it attractive for investors, according to analysts.

There are much concerns arising out of the company including investments in the telecom business, the softness in petchem and refining margins and declining KG-D6 gas production as well as lower than expected benefits from gas price hikes have all been factored in.

Its more for sentimental reasons than related to fundamentals as there is sharp decline in stock prices post 28 November, according to analysts.

Expectation of weaker rupee and recent strength in petchem margins on the bank of maintenance shutdowns at facilities in China will benefit RIL. Lower crude prices will also be beneficial for the petchem segment as basic feedstock becomes economical.

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