Why Are Global Brokerages Turning Cautiously Optimistic on Reliance Industries?
Reliance Industries Ltd (RIL) continues to stay in focus as leading global brokerages maintain a largely positive stance on India’s largest conglomerate. While near-term telecom softness was noted, strength in the retail and media businesses provided a strong cushion during the September quarter (Q2FY26). Jefferies highlighted that consolidated EBITDA came 4% above estimates, driven by 8% higher retail performance and strong media contribution.
RIL’s retail vertical remains the key driver of optimism, growing 22% YoY with broad-based momentum across digital and offline formats. Jefferies believes this growth momentum will sustain into Q3FY26, alleviating investor concerns around discretionary slowdown. The brokerage reiterated its Buy rating with a revised target price of ₹1,780, slightly lower than its earlier ₹1,785, citing modest adjustments in telecom projections.
To stay updated with institutional insights like these, explore our Nifty Option Tip and make your trading decisions based on verified data-driven guidance.
Brokerages noted that Jio’s revenue missed expectations marginally, but its EBITDA remained in line thanks to strong traction in the home broadband segment. Morgan Stanley emphasized that Reliance’s operating metrics remain solid, maintaining an Overweight stance with a target price of ₹1,701. Nomura and Motilal Oswal also reiterated their Buy calls, highlighting steady operating leverage and improved cash flow visibility.
The broader consensus remains bullish, though slightly tempered by near-term margin constraints in O2C (oil-to-chemicals) and telecom. Analysts point out that retail’s continued strength and media’s profitability expansion could drive valuation re-rating through FY26. Energy transition investments and digital ecosystem expansion remain long-term value drivers.
| Brokerage | Rating | Target Price (₹) |
|---|---|---|
| Jefferies | Buy | 1,780 |
| Morgan Stanley | Overweight | 1,701 |
| Nomura | Buy | 1,700 |
| Motilal Oswal | Buy | 1,700 |
| JPMorgan | Overweight | 1,695 |
| Kotak Inst. Equities | Add | 1,600 |
| Macquarie | Outperform | 1,650 |
| DAM Capital | Buy | 1,515 |
Despite global volatility, Reliance remains among the most preferred large-cap picks across brokerages, supported by diversified business streams and steady earnings visibility. Analysts expect further clarity on demergers and capital structure moves to act as medium-term triggers for rerating.
Get actionable insights like these before the market moves — track our expert BankNifty Intraday Tip for high-probability setups aligned with institutional flows.
With the retail and energy arms maintaining strong momentum and Jio stabilizing, the company appears well-positioned to deliver steady growth across segments. Long-term investors could see meaningful value creation once digital and renewable assets are fully monetized.
Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, notes that RIL’s diversified structure continues to offer resilience even amid sectoral headwinds. Institutional sentiment remains broadly positive, supported by robust balance sheet, expanding retail margins, and continued telecom subscriber gains.
Discover more institutional-grade insights and research-backed views at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Reliance Industries
- Why Did Jefferies Maintain a Buy Rating on Reliance Industries?
- How Is Retail Driving Reliance’s Consolidated EBITDA Growth?
- What Are Global Brokerages’ Latest Target Prices for RIL?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
