Stock market guru, SP Tulsian, on Monday said he is positive on Kotak Mahindra Bank and Reliance Industries Ltd (RIL).
Tulsian said Kotak Mahindra Bank has reported good Q3 numbers and the comforting part for the Bank Nifty for this weekly option expiry is both the HDFC Bank and Kotak Mahindra Bank have posted good numbers.
Talking about Kotak Mahindra Bank, he said all the parameters are seen to be quite good and this will keep momentum positive for the bank at least for next 2-3 days till Thursday.
Tulsian said, "Reliance Retail will be a big mover in terms of the growth on topline and bottom line. Apart from that, Reliance Jio again hiving off the passive infrastructure assets will again be deleveraging the main balance sheet of RIL."
"New rule, which will be implemented from January 1, 2020, by the International Maritime Organization (IMO) on the use of low sulphur content diesel is seen as a big positive for RIL. If this move happens, RIL will be able to capture a major portion of that and I won’t be surprised to see the GRM straight away getting an increase on an average on the aggregate basis by about $3-4," he added.
"I won’t be surprised to see RIL moving to the level of Rs 1,313-1,315 in maybe next month or so," Tulsian said.
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