“Maintained a Buy rating on Reliance Industries with a target price of ₹1,765, indicating a 33% upside. Q1FY27 EBITDA rose 11% YoY, supported by O2C and Digital businesses, despite Retail being a weak spot. Rapid solar capacity expansion and renewable energy initiatives are expected to improve future profitability and support earnings, with the stock trading at 21x FY28E EPS.”

Nuvama Analysis’s track record: 4 graded calls · 95% CI 15–85%