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New Delhi: The shares of Reliance Industries Limited (RIL) jumped to their 52-week high in the fourth consecutive session on Friday 28th November. The stock is now approaching the turning point of Rs 1600. The shares of RIL rose nearly 1 percent to a peak of Rs 1578.95 at the time of writing this article on Friday. The market cap of Mukesh Ambani's group has increased to Rs 21.33 lakh crore.
RIL's stock has increased by 24 percent in one year and 29 percent in 2025 so far. The stock has risen 6 percent in a month.
Jefferies maintained a 'buy' call on Reliance Industries' stock with a target price of Rs 1,785 per share, which means it will gain more than 14 percent from the current level.
Positive factors for RIL stock
Jefferies' positive call reinforces a series of brokers' positive factors in recent weeks. JPMorgan had earlier maintained its' overweight 'rating, as the refining and petrochemicals weakness witnessed in FY24-25 is now left behind by the company and there is scope for earnings upgrades from the existing refining strength. It also pointed to potential catalysts like Jio IPO, predictable hike in tariffs, launch of new energy business and steady retail growth.
Brokerages are also expecting more of the company's new energy initiatives. Motilal Oswal recently raised its price target after adding the battery manufacturing vertical to its model, while UBS has reiterated its' Buy 'rating citing strong refining margins and insulated crude sourcing. According to the LSEG data given in a recent Reuters report, the average analyst rating on Reliance remains' Buy ', with a median target price of Rs 1,685.
According to the technicals, the Relative Strength Index (RSI) of RIL stock is 71.9, which indicates that it is trading in the overbought zone. RIL shares are trading above the moving averages of 5 days, 10 days, 20 days, 30 days, 50 days, 100 days and 200 days.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
