Pending — not yet graded
Bullish on Reliance Industries (RIL) with a 'Buy' rating and a price target of ₹1,710, implying a 53% upside from current levels. The brokerage expects global refining margins to remain tight through CY2026 due to disrupted throughput, supporting RIL's O2C earnings in FY27, alongside firm petrochemical spreads. RIL is trading below its long-term average valuation, indicating a favorable risk-reward profile, with a projected 10% EBITDA CAGR over FY26-29.

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%

Reliance IndustriesBullishCalled 01 Sep 2026
Verdict:PENDING

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