Reliance shares jump to fresh 52-week high as Jefferies projects 14% upside on earnings momentum
Shares of Reliance Industries Ltd. (RIL) rose 1.1% on Friday to hit a new 52-week high of ₹1,580.90 on the BSE after global brokerage firm Jefferies reiterated its ‘Buy’ rating on the stock with a price target of ₹1,785, implying a potential upside of 14%.
The brokerage cited improving earnings growth and multiple valuation triggers across all of RIL’s core business segments—retail, oil-to-chemicals (O2C), telecom, and FMCG—as the key drivers.
The brokerage also highlighted that the stock continues to trade below its long-term EV/EBITDA average, which indicates a favourable risk-reward.
