Buy Reliance Industries: Baliga

Buy Reliance Industries, says Ambareesh Baliga, Karvy Stock Broking.

Baliga told CNBC-TV18, "We have been betting on Reliance for quite a while and even at these levels we feel that possibly the downside is very-very limited. It actually should not really have come below those Rs 950-960 levels but we took it as an opportunity to picked up at lower levels."

He further added, "There is nothing fundamentally wrong with Reliance as a company. The markets may not have liked those recent investments they have made but then for that I do not think this stock should have punished so much. So at these levels clearly we are buyers. We still feel that possibly next 15-18 months we should see the levels of Rs 1384-1400 which I think is a decent return from these levels."