Sell Reliance Energy

Submitted by Narendra Jakhad on Tue, 03/11/2008 - 05:28

Stock market analysts have suggested the investors to sell Reliance Energy stock as there are full chances of a downward trend in this stock.

The stock is trading weak after opening at Rs 1259, against its last closure at Rs 1270 on the Bombay Stock Exchange (BSE).

Stock analysts also suggested that if the stock fell below Rs 1225, it may see more weakness. So the investors must sell the stock below Rs 1168 with a stop loss of Rs 1218, for targets of Rs 1108 and Rs 999.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

The board of directors of Reliance Energy has decided to change the name of the company to `Reliance Infrastructure Limited`. The company seeks shareholder authorization.

The company, already leader across infrastructure verticals like metro rail, highways, roads, has posted a 50.03% growth in net profit to Rs 3,016.00 million for the quarter ended December 2007, as compared to Rs 2,010.30 million for the corresponding quarter last year.


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