Idfc cuts Reliance Industries to 'neutral' citing valuations
IDFC cut its ratings on Reliance Industries Ltd to 'neutral' from 'outperform', citing valuation concerns after a recent rally in shares of the energy conglomerate.
Brokerage Motilal Oswal said on Wednesday it had cut Reliance Industries to ``neutral'' from ``buy'', as the energy giant's gas production from KG-D6 block was unlikely to be ramped up for next 6-12 months.