Business · India Bureau
Jefferies maintains buy call on Reliance, lifts price target to ₹1,710
Brokerage firm Jefferies has raised its target price for Reliance Industries to ₹1,710, representing a potential 33 per cent upside from current levels. The analyst cites growth prospects in oil-to-chemicals and retail segments as key drivers for a re-rating of India's largest conglomerate.
LSN India ·
Jefferies has maintained its 'Buy' rating on Reliance Industries Limited (RIL) shares while revising the target price upward to ₹1,710, according to market reports. The new target implies an upside potential of 33 per cent from the previous closing price of ₹1,285, signalling the brokerage's confidence in the company's growth trajectory.
The upgrade comes on the back of Jefferies' optimistic outlook for Reliance's oil-to-chemicals (O2C) division and its expanding retail operations. These two business segments are seen as key catalysts that could drive a significant re-rating of the stock in the near to medium term.
Reliance Industries shares rose 2.5 per cent following the analyst update, reflecting investor sentiment on the improved outlook. The company's diversified business portfolio spanning energy, petrochemicals, and consumer retail has positioned it well to capitalise on structural growth opportunities across these sectors.
The brokerage's move underscores sustained investor interest in Reliance as a proxy for India's economic growth story. With operations spanning upstream energy production, downstream refining and chemicals, and a burgeoning retail footprint, the conglomerate remains a key bellwether for India's industrial and consumer sectors.