RIL, Jio Financial shares: Expert says sentiment turning favourable; highlights challenge of finding value
Speaking to Business Today, the market expert noted that despite a correction lasting more than a year, quality companies continue to command higher valuations.
- Nov 24, 2025,
- Updated Nov 24, 2025 2:46 PM IST
Abhishek Basumallick, Co-founder and Fund Manager at Shree Rama Managers, said on Monday that identifying value in the current stock market has become significantly more difficult compared to a few years ago. Speaking to Business Today, the market expert noted that despite a correction lasting more than a year, quality companies continue to command higher valuations.
"I think even after this correction of more than a year, companies that are doing well are not cheap. Sectorally, power, defence, shipping, ports, engineering, manufacturing, chemicals, fertilisers and cement look quite good," he said.
Basumallick explained that investors now face a clear dilemma. "So, the conundrum we face is that companies that are doing well are fairly priced or expensive and companies which are not doing well are probably available cheap. So, you have to take your call whether you want to buy slightly expensive companies which are doing well versus companies which are not doing well and are available cheap," he added.
Commenting on Reliance Industries Ltd (RIL) and its group entities, Basumallick pointed to strong performance in the conglomerate's key business segments. "Biggest trigger for Reliance right now is its telecom business that's doing really well and also in the last few you know quarters, I think the refining part has also been doing well. Jio Financial Services Ltd (JFSL) is again something which is also picking up," he said.
He further highlighted improving momentum across the broader Reliance ecosystem. "So, the entire Reliance ecosystem is beginning to pick up. They've invested heavily in Reliance Retail. At some point in time, it will also start giving back cash flows to the parent company," he stated.
Basumallick concluded that sentiment "is now in favour of Reliance at least for the short term."
Abhishek Basumallick, Co-founder and Fund Manager at Shree Rama Managers, said on Monday that identifying value in the current stock market has become significantly more difficult compared to a few years ago. Speaking to Business Today, the market expert noted that despite a correction lasting more than a year, quality companies continue to command higher valuations.
"I think even after this correction of more than a year, companies that are doing well are not cheap. Sectorally, power, defence, shipping, ports, engineering, manufacturing, chemicals, fertilisers and cement look quite good," he said.
Basumallick explained that investors now face a clear dilemma. "So, the conundrum we face is that companies that are doing well are fairly priced or expensive and companies which are not doing well are probably available cheap. So, you have to take your call whether you want to buy slightly expensive companies which are doing well versus companies which are not doing well and are available cheap," he added.
Commenting on Reliance Industries Ltd (RIL) and its group entities, Basumallick pointed to strong performance in the conglomerate's key business segments. "Biggest trigger for Reliance right now is its telecom business that's doing really well and also in the last few you know quarters, I think the refining part has also been doing well. Jio Financial Services Ltd (JFSL) is again something which is also picking up," he said.
He further highlighted improving momentum across the broader Reliance ecosystem. "So, the entire Reliance ecosystem is beginning to pick up. They've invested heavily in Reliance Retail. At some point in time, it will also start giving back cash flows to the parent company," he stated.
Basumallick concluded that sentiment "is now in favour of Reliance at least for the short term."