The brokerage company Nuvama, which had the highest price objective for Reliance Industries on the street at ₹1,801, has slightly reduced it to ₹1,767. This still suggests a 20% possible increase from Friday’s closing prices.
Reliance Industries Q1 Results Trigger 20% Share Price Growth Forecast
Following the release of the June quarter results on Friday, July 18, after market hours, 92% of the 37 analysts who cover the Nifty 50 heavyweight Reliance Industries Ltd. still have a “buy” rating on the company.
The brokerage company Nuvama, which had the highest price objective for Reliance Industries on the street at ₹1,801, has slightly reduced it to ₹1,767. This still suggests a 20% possible increase from Friday’s closing prices. Axis Capital then followed, increasing its aim from ₹1,720 to ₹1,764.
According to Nuvama, the biggest multi-decadal growth driver will be the new energy ecosystem, which is expected to accelerate over the next four to six quarters. Additionally, the brokerage stated that a surge in US ethane imports will boost margins and that RIL’s Petchem development is on track for the fiscal year 2027.
However, Morgan Stanley stated in their note that they were not satisfied with the growing confidence that RIL’s results offered. Additionally, it stated that the company’s forecast was upbeat. With a price objective of ₹1,617, it still maintained its “overweight” recommendation on the stock.
Another firm, Jefferies, has set a price objective for the shares of more than ₹1,700. The stock was rated as a “buy” with a price objective of ₹1,726. Even if a refinery closure had an effect on the o2C industry, the brokerage stated that the forecast for refining is still positive.
The company’s annual general meeting will now be the main focus, with Jefferies predicting that a potential IPO of Jio will come before a rate increase.
Three growth drivers are anticipated by Nomura for Reliance in the near future: the expansion of the new energy sector, pricing increases for Jio that would directly affect the company’s bottom line, and a possible initial public offering (IPO) and listing for Jio.
The brokerage has reduced RIL’s EBITDA estimate for the fiscal year 2027 by 3% and its profit after tax (PAT) projections for the fiscal years 2026 and 2027 by 1% and 10%, respectively.
With a price objective of ₹1,600, Nomura has a “buy” recommendation on Reliance Industries.
Reliance Industries is rated as a “buy” by 34 of the 37 analysts that follow the company, “sell” by two, and “hold” by one.
Reliance Industries’ stock closed Friday at ₹1,476 with minimal change. So far in 2025, the stock has increased by 20%.
