Good time to take some money off the table: Nischal Maheshwari
«This current quarter is showing some signs of improvement there. So, overall, good set of numbers. We have a buy on Reliance. We continue to maintain the buy,» says Nischal Maheshwari, Centrum Broking.
What is your view on Reliance Industries, pretty much in line with what the Street was expecting? How have you read into the numbers? Was there an anticipation that there would be some further announcement?
I agree with you. I think more or less in line with the results. What I am excited about between the three of the businesses, I think is retail. Retail has done very well and I think one of the interesting things which they have put out is now they have three in-house brands which have crossed Rs 2000 crores of revenue.
Retail is the highlight of this current quarter. Profitability-wise more or less in line. The second thing which was highlighted is that the capex seems to be now going on the downside.
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So, their net debt has gone down, so they are spending less. So, these were two worries. This was one of the worries which people had about Reliance saying that capex is going to continue to go up.
This current quarter is showing some signs of improvement there. So, overall, good set of numbers. We have a buy on Reliance. We continue to maintain the buy.
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