Is a move on Reliance sustainable? How will IT fare? Mayuresh Joshi answers

economictimes.indiatimes.com:

Mayuresh Joshi, Head-Equity Research, India, William O'Neil, says “the commentary surrounding order wins by IT companies remains extremely strong because the targeted bucketed list that they probably have between a million dollars to five million and to ten million for midcap IT companies those order wins and those transformational deals when it comes to AI and the associated space is there itself still continues at a rapid and a very good pace. The other space, ER&D, where a lot of companies like a KPIT, Tata Elxsi, Sonata have done well and continue to do well.”

Is a move on Reliance sustainable and are there enough fundamental triggers in place?
Singapore GRMs have come off in the last few weeks and therefore the refining segment for the better part of the second quarter and the third quarter, will stay at these levels and can be under some sort of pressure. But we all know that Reliance has access to multiple feedstocks and even if Singapore GRMs have corrected to around $6.5, an outperformance of $2 to $3 to say the least can be expected from Reliance.

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The retail part of the businesses are holding up right well. We have already seen Jio do reasonably well in the past quarter, Reliance Retail with the opening up of new stores and the expectations in terms of more leverage kicking in as the festive season comes around in the next few weeks, the next couple of quarters should be good from the retail side of the business as well.
When it comes to the oil and gas part,