Stock market expert SP Tulsian of sptulsian.com on Wednesday said Reliance Industries Ltd is still giving an excellent opportunity to the buyers, who wish to have as an investment.
"On a fundamental basis, the retail and Jio vertical seem to be doing well. I am not disappointed with their petrochemical and refinery segments. So yes, overall this is an excellent opportunity for those who missed to buy this stock at the current level," he said
When asked about IndusInd Bank, Tulsian said, "We never thought it can slip below Rs 1,100-1,000. so it’s very difficult to take a call. However, at the current valuations, we have been taking an extremely positive view on the banking stocks like ICICI Bank, Axis Bank, SBI and HDFC Bank."
Speaking about Apollo Tyres, he said, "If you take a call on the falling crude now ruling at sub $40 per barrel, that will be seen positive for all the tyre-makers as the synthetic rubber prices are falling. Taking that into account, I have a positive view of the tyre stocks. However, that has to be linked with the revival in the auto cycle. So maybe allow the one-month sales (March sales) to come in, you will be seen the liquidation of BS-IV inventories and thereafter BS-VI will start and the replacement market seems to be quite huge for Apollo Tyres as well as for MRM as both have a strong presence in the commercial vehicle. So, we are keeping a positive view on Apollo Tyres plus other tyre stocks as well."
Disclosure:
Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
