Harshvardhan Dole, VP-Institutional Equities at IIFL, spoke to CNBC-TV18 about his views on Reliance Industries Ltd stock after Monday's AGM.

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"Reliance Industries continues to remain our top pick", Dole said on Tuesday.

“We are quite impressed with the strategies announced by Reliance Industries with regards to Aramco deal,” he added.

“The target to be net debt-free company by 2021 should bode well for the stock’s rerating and the EV for Aramco deal, which has been pecked at USD 75 billion also bodes well from maintaining a floor price for petchem and refinery division valuation. Therefore, we are net buyers of RIL and within next 12-18 month time the stock should go to its fair value which we assess close to Rs 1,530,” Dole further added.

On NTPC, he said, “NTPC's reported numbers were impacted by a lot of one-offs.”

He further said that NTPC is trading at multi-year low valuations.

Disclosure: Reliance Industries, the parent company of Reliance Jio, owns Network 18 that publishes CNBCTV18.com.