Reliance back on growth path, multiple catalysts to drive performance, say brokerages

New Delhi: Reliance Industries Ltd, India’s most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said. Oil-to-telecom-and-retail conglomerate’s highest-ever EBITDA of Rs 43,800 crore in October-December 2024 – the third quarter of April 2024 to March 2025 fiscal (FY25) – best estimates on strong showing across segments. In particular, this was driven by strength in oil-to-chemical (O2C), which is made up of oil refineries and petrochemical plans, and recovery in consumer retail.