“Motilal Oswal maintains a 'buy' rating on Reliance Industries with a revised target price of ₹1,550. The brokerage expects a consolidated EBITDA/PAT CAGR of 9-10% over FY26-28, driven by higher O2C earnings, other income, and lower minority interest, despite losses in Jio-BP. The target price applies a 25% holdco discount to RIL's stake in JPL.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%