Edelweiss - Reliance Industries

Edelweiss recommends ACCUMULATE on Reliance Industries

Edelweiss is positive on the acquisition and believe that the large balance sheet size of RIL will allow it to turnaround Hualon

At INR 1,987, RIL trades at 23.5x and 21.3x FY08E and FY09E EPS respectively. The stock
trades at12% premium to the Edelweiss fair SOP value of INR 1,774.