Reliance Industries gains as J.P. Morgan reiterates 'overweight' rating

Reliance Chemotex Industries

21/08/2025 06:44

** India's Reliance Industries RELI.NS climbs 1.1% to 1,428.90 rupees

** Benchmark Nifty 50 .NSEI trading 0.3% higher

** J.P. Morgan reiterates 'overweight' rating on stock with unchanged PT of 1,695 rupees

** Says stock's valuations look reasonable, adding it sees multiple positive drivers including an upward trend in RELI's near-term petrochemicals business' gross refining margins

** Reliance Retail to also benefit from upcoming festival season - JPM

** Moreover, RELI's growing EBITDA and stable capex, as seen in its annual report, would result in a reduction in leverage, brokerage says

** YTD, RELI gains 17.4% vs Nifty's 6.2% climb

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))