Reliance Industries Share Price Target: Following the buzz around Reliance Industries’ telecom arm Jio initial public offering (IPO), the stock of Reliance Industries Limited has been in focus. Global brokerage firms such as Nuvama, Emkay, and Motilal Oswal have maintained a bullish outlook on the stock and see an upside potential of up to 35 per cent.
Reliance Industries Limited, led by Mukesh Ambani, is a constituent of the BSE Sensex and commands a market capitalisation of approximately Rs 17,71,882.96 crore.
Nuvama Maintains BUY Call
Nuvama has retained its ‘BUY’ rating on Reliance Industries Ltd (RIL) with a target price of Rs 1,765, citing a clear shift toward execution following the company’s AGM 2026. The price target suggests an upside of 34.8 per cent for the stock from the current level.
The brokerage said RIL’s New Energy business is expected to begin meaningful contribution from FY27, supported by operational solar module and cell plants scaling toward 20 GW capacity. It estimates a 10 GW base could add about 5 per cent to FY26 PAT.
RIL is also advancing data centre capacity, electrolyser and BESS projects, alongside green chemicals initiatives. Growth is expected from retail and petchem expansions, though holding company discount may cap shareholder gains.
Emkay Sees 28% Upside
Emkay has maintained a ‘BUY’ rating on Reliance Industries Ltd (RIL) with a target price of Rs 1,680 (an upside of nearly 28 per cent), following the company’s CY26 AGM.
The brokerage highlighted approval of the long-awaited Jio Platforms IPO DRHP, involving a fresh issue of up to 270 million shares, or about 3 per cent stake.
The brokerage also highlights that Reliance Intelligence has moved into execution, with 120 MW of compute capacity slated for Jamnagar by end-CY26, powered by solar assets in Kutch. New Energy remains a key focus, with commercialisation expected from FY27.
RCPL targets Rs 1 trillion revenue by FY30, while RIL aims to more than double EBITDA over five years.
Motilal Oswal Holds Bullish Outlook For RIL
Motilal Oswal has reiterated its ‘BUY’ rating on Reliance Industries Ltd (RIL) with an unchanged target price of Rs 1,655, translating to an upside of over 26 per cent. The brokerage expects Reliance Jio to remain the key growth driver, projecting an 18 per cent EBITDA CAGR over FY26-28E.
It models 9-10 per cent CAGR in consolidated EBITDA and PAT. With peak capex in digital services likely behind, Motilal expects strong free cash flows and declining consolidated net debt.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
