Reliance Industries is in focus after global brokerage JPMorgan reiterated its Overweight rating on the stock while revising its target price upwards to Rs 1,727 from Rs 1,695.
According to the brokerage, RIL’s valuations remain attractive when compared to peers, even as the stock continues to trade at an estimated 15% holding-company discount. JPMorgan believes the earnings drag from the weaker refining and petchem cycle seen in FY24 and FY25 is now behind the company.
The note adds that earnings growth is expected to improve, supported by current refining strength which has the potential to trigger further upgrades. The brokerage also highlighted several key catalysts lined up for 2026, including:
-
The potential Jio IPO
-
A tariff increase cycle
-
Commissioning of new energy projects
-
More stable growth in the retail business
JPMorgan said these developments could offer meaningful support to the stock going forward.
