Mukesh Ambani’s Reliance Industries Hits 52-Week High, Outperforms NIFTY50

Shares of Mukesh Ambani’s Reliance Industries rose 1.5 percent on Tuesday, climbing to a fresh 52-week high after JPMorgan reiterated its ‘overweight’ rating and highlighted a stronger earnings outlook heading into 2026. RIL stock rose 1.5 percent to Rs 1,559.6 in the morning trade, extending its year-to-date gains to 27 percent.Data show that the blue-chip stock, which is also India's most valuable company, has outperformed  the benchmark NIFTY50 index (up over 9%) by a huge margin.

Global investment firm, JPMorgan kept a share price target of Rs 1,727 on Reliance Industries stock, implying nearly 11 percent upside from the current level.The brokerage said that RIL’s valuations remain attractive versus peers such as D-Mart and Bharti Airtel, adding that the stock continues to trade at a roughly 15 percent holding-company discount. Further, the earnings drag from weaker refining and petrochemicals performance through FY24-25 is now behind the company, while the current strength in refining offers scope for upgrades.

JPMorgan flagged several potential catalysts for 2026, including a possible Jio IPO, telecom tariff increases, commissioning milestones in the new energy business, and steadier retail growth. These factors reinforce the case for further upside in the stock, it said. Broker sentiment on Reliance Industries shares has broadly strengthened in recent weeks. UBS reiterated its ‘buy’ rating with a target price of Rs 1,820, expecting an improvement in oil-to-chemicals earnings supported by firm refining margins. It said that the Singapore benchmark does not fully reflect the margins being realised by diesel-heavy refiners and added that RIL’s diversified crude sourcing should cushion it from geopolitical pressures, including US tariff actions. UBS estimates O2C operating profit will rise to Rs 34,000 crore in the second half of FY26 from Rs 29,500 crore in the first half. Motilal Oswal also maintained a ‘buy’ call and lifted its target price to Rs 1,765 from Rs 1,700, citing tailwinds from Reliance Industries’ upcoming new energy businesses. The brokerage raised the valuation of the new energy segment after incorporating the battery manufacturing vertical into its model.