Accumulate RIL on declines: Sajiv Dhawan

Accumulate Reliance Industries (RIL) on declines, says Sajiv Dhawan, JV Capital Services.

Dhawan told CNBC-TV18, "We have advised clients to hold RIL and accumulate on any significant decline. The bad news is pretty much factored into the stock; the stock has had a bit of a rough patch, it's reasonably steady at sub Rs 1,100 levels. I think investors after the bonus would look to further accumulate the stock on any significant decline.”

He further added, “Over a period of time Reliance does reward patient shareholders; its not one of the most glamorous stock from a trader's perspective nowadays but it has been in the news. Anyway if Lyondell Basell deal doesn't go through or get reworked, I am sure in the medium to longer-term Reliance will give its investors a steady decent return over the two-three year timeframe.”