India's Reliance hits 14-month high, eyes third monthly gains on improving earnings outlook

Brookfield

28/11/2025 07:52

** Reliance Industries RELI.NS gains 5.2% in November and is on track for a jump of about a 16% in three months

** RELI shares rise as much as 1.1% on the day to a 16-month high; last trading 0.5 higher%

** Multiple brokerages including J.P. Morgan, Investec and Jefferies reiterate a positive view on RELI this week, citing improving earnings and double-digit growth in retail, consumer and oil-to-chemicals businesses

** Jefferies maintains "buy" and raises PT to 1,785 rupees from 1,780 rupees

** Expects gains in consumer business in 2026 due to deepening distribution in staples, beverages, beauty segments

** Notes stronger festive demand is boosting retail profitability, with elevated refining margins also a positive

** Likely telecom tariff hikes and a planned IPO of Jio Platforms in the first half of 2026 to also support earnings - Jefferies

** YTD, RELI is up ~29%, surpassing Nifty 50's .NSEI 11% rise

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))