UBS has resumed coverage on Reliance Industries Ltd. (RIL) with a ‘Buy’ rating, setting a target price of ₹1,750 — indicating a potential upside of 24% from Monday’s closing price of ₹1,413.70. The brokerage sees significant re-rating potential, driven by value unlocking across segments. UBS noted that Reliance is shaping India’s digital and new energy landscape, with Jio and Retail entering a “harvesting phase” and the Oil-to-Chemicals (O2C) business becoming less cyclical as new energy gains traction. It expects the new energy segment to begin contributing to EBITDA by FY27.
Last week, CLSA reiterated its ‘Outperform’ call on RIL with a target of ₹1,650, citing key long-term growth drivers such as Jio’s AI initiatives, media and consumer business expansion, and new energy integration. CLSA is also eyeing updates at RIL’s upcoming AGM on August 29, especially on the Jio IPO, AI strategy, and FMCG developments.
JPMorgan maintained its ‘Overweight’ stance with a price target of ₹1,695, highlighting strong O2C margins, potential telecom tariff hikes, and retail growth as positives. Of 37 analysts, 34 rate RIL a ‘Buy’, and one a ‘Hold’.
