Reliance Industries Ltd (RIL) saw its stock surge over 3% after global brokerage Macquarie upgraded it to ‘outperform,’ setting a target price of ₹1,500. As of 10:34 AM, the shares were trading 2.64% higher at Rs 1,241.55.
Macquarie’s revised outlook for RIL is driven by expected improvements in earnings momentum over the next 6-12 months. The brokerage forecasts an EPS CAGR jump from 2% in FY23-25 to 15-16% in FY25-27. Key factors supporting this positive trajectory include strong earnings growth in upcoming quarters, potential developments around Jio’s listing, and the gradual expansion of RIL’s renewable energy capacities.
The anticipated listing of Jio could serve as a major trigger for the stock, with more clarity expected around RIL’s Annual General Meeting (AGM). Additionally, the company’s ongoing investments in green energy signal long-term value creation.
Reliance Industries’ shares opened at ₹1,216, reaching a high of ₹1,247.00 and a low of ₹1,212. The stock remains volatile within its 52-week range of ₹1,156 to ₹1,608.80.
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