In a chat with ETNow says If Indian economy is to grow and if GST is in place , this business is likely to do wonderfully well.Edited excerpts:Reliance value is still left as of today at the current price of Rs 1240-1250 range. The basic reason is the core business of Reliance. They have invested about Rs 1,25,000 crore in last three years which is coming on stream this year. If you assume 10% to 12% return on investments, basically all these projects are at a higher grade of performing businesses led by petcoke gasification, ethane import, Reliance refinery of gas cracker, some value addition with expansion and various other fibre plastic business.The core business efficiencies of Reliance is already known to us and we are already operating at around 13.5 to 15% EBITDA margin depending on which area you look at. If Indian economy is to grow and if GST is in place, this business is likely to do wonderfully well. The total capex of Reliance in last three-four years between telecom and this was approximately to the tune of Rs 250000-260000 crore and the entire capex now is seen in a positive light because Jio plan was rolled out 10 days back and Jio plan means that overhang of Rs 150000 crore which is Rs 360-370 a share. The catch up will last one week which you are seeing in the stock price of the moment.December to March we should look at Rs 1700 as a price subject to two-three conditions. One is GST and how India shapes up as a general rule of thumb and if Jio does substantially better, the price can be much higher because i case of consumer business with core energy business, the PE would be different.I am just looking at a consumer business which is yet to take off in the current year because the second half of the next financial year would show you a visualisation what is the potential of Jio is in terms of ARPU and revenue itself. Right now, current base is based on 100 million subscribers. Even if at 40-50%, a justification would not be able to match up to the numbers and expectations. So, I initially you should keep a target of 1700 for December to March and post that put a substantial further number over a period post March result.Once your investment starts reaping revenue and profit both, based on free cash flow and the rate of interest which is prevailing in the market, justification would be there for paying a little higher dividend because shareholders have taken a seven-eight year wait and not having any performance benefit of the investment. Once the capex is over, the fruits are likely to be shared with the shareholders in terms of dividend or any other benefit.