“Reiterated a Buy rating on Reliance Industries with a revised target price of ₹1,550, implying a 17% upside. Stronger profitability in the energy business, particularly O2C and E&P segments, drove EBITDA growth, offsetting softer Reliance Retail performance. MOSL expects consolidated EBITDA and PAT to grow at a CAGR of 9-10% over FY26-28.”

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