Prakash Diwan of Altamount Capital Management is of the view that one may look at Reliance Industries.
Prakash Diwan of Altamount Capital Management told CNBC-TV18, "As we draw close to the earnings announcement and there is a lot of expectation that the GRMs would pleasantly surprise this time and with a significant bump up. It tells you that Reliance Industries has kind of got over at least that particular issue and if telecom were also to kind of trigger in which seems to getting closer and closer as we move along because lot of those milestones are already done with."
"My sense is people have kind of waited enough and now it is time for the last mile to kind of be connected of sorts for investors and the big move that Reliance has always been expected to make. That is why there is a lot of retail participation that has come back. We have seen enquiries into Reliance in terms of saying whether it is worth buying at this stage which six months back nobody asked. So, people have started querying that particular thing, wanting to build that into the portfolio," he said.
"Institutions are anyways done quite well in the last quarter adding up to Reliance but this time around it is HNIs and retail that are looking at it. So, my sense is the results is probably the key trigger here and I hope there is a no disappointment when results are out otherwise you could probably see a equally sharp reaction downwards."
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
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