How Motilal Oswal Sees Reliance Industries: BUY with ₹1,700 Target
Motilal Oswal Brokerage Report Highlights
- Reiterate BUY rating with unchanged target price of ₹1,700/sh
- Chairman reiterated ambition to double EBITDA by 2027 (vs. 2022)
- IPO of Jio Platforms targeted for 1HCY26
- Retail revenue expected to grow at 20%+ CAGR over the next three years
- AI and FMCG identified as new growth drivers
- RJio expected to remain the biggest growth driver with 19% EBITDA CAGR FY25-28
- Supportive factors for RJio: one more tariff hike, market share gains in wireless, ramp-up of Homes & Enterprise offerings
- Earnings recovery expected in O2C segment driven by improved refining margins
- Built-in 11% consolidated EBITDA and PAT CAGR FY25-28, driven by RJio, RRVL, and O2C recovery
Brokerage Comparison Table
Brokerage | Rating | Target Price (₹) |
---|---|---|
Motilal Oswal | BUY | 1,700 |
ICICI Direct | BUY | 1,720 |
HDFC Securities | BUY | 1,710 |
Axis Securities | BUY | 1,695 |
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Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services