Jefferies has a “buy” rating on Reliance Industries with a price target of ₹1,675. This implies an upside potential of 28% from current levels.
The brokerage wrote in its note that FMCG investments are accelerating and that could propel revenues to their target of ₹1 lakh crore by 2030. The new energy business is also nearing monetization with solar module and ESS production set to begin this financial year.
Nomura Keeps Target At ₹1,640 On RIL
Nomura wrote in its note that AI will be the company’s new growth engine as Reliance Intelligence moves from plan to execution stage, with the Jamnagar sovereign AI hub.It also expects the New Energy business to report first revenue from the current financial year, adding that the $3 billion green energy supply agreement with Samsung C&T supports the company’s green molecule story.
Nomura has a “buy” rating on the stock with a price target of ₹1,640, which implies an upside potential of over 25% from current levels.
CLSA Expects Continued Outperformance
The brokerage maintained its “outperform” rating on Reliance Industries with a price target of ₹1,800, which is among the five highest price targets on the street for the stock.The price target implies an upside potential of 38% from current levels.
CLSA said that its price target does not assign any value to Reliance’s AI, FMCG, Media, new materials or export plans.
Reliance also revealed AI to be a core tool used by them across their businesses.
Is Reliance Industries A Buy Or Sell?
Reliance Industries remains a near-consensus “buy” across analysts who track it. Among the 34 analysts who cover the stock, 33 have a “buy” rating, while only one has a “sell” recommendation.
Shares of Reliance Industries ended 1.2% lower on Friday at ₹1,311.5. The stock is down 17% so far this year.
