At a P/E of 54 and P/BV of 7.77, RIIL is 2.5 times the price it can command from the market. It really should be at 380-400, going by valuations. No doubt that operators pushed it up to beyond 1000. If you notice that most of Anil's companies have inflated and over-valued prices and they should all have significant corrections.
For RIIL,current price is around 840; it will slip further. If it cannot rebound from the support level of 820, it will drift down to 780 quite easily in the next few weeks. Unless there is a good news floated by operators, who may try to keep the stock floating.
Market is flooded with dubious people, selling information with vested interest and also manipulating stock prices. Please be careful with your hard earned money.
No comments:
Post a Comment