Reliance Industries stock surges 3% after Citi's upgrade to 'buy'

RIL had reported better-than-expected consolidated net profit for the July-September quarter.

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26 Aug, 2025 12:21

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Shares of Reliance Industries soared as much as 3 percent on November 25 after Citigroup analysts upgraded their rating for the stock to a ‘buy’. The analysts also raised the price target for the stock to Rs 1,530, implying an upside potential of 21 percent from Friday’s close. The brokerage believes the risk-reward dynamics for the stock have shifted favourably, fueled by multiple tailwinds.

At 10.00 am, shares of Reliance Industries were among the top gainers on the Nifty 50, trading at Rs 1,295 on the NSE.

Citi anticipates an improvement in refining margins, citing China’s diminishing export competitiveness as a key factor. On the telecom front, Jio continues to stand strong well-positioned to benefit from potential tariff hikes and opportunities to enhance data pricing while monetizing its 5G rollout, the brokerage stated.

However, the brokerage also pointed out that softness in Reliance’s retail segment may persist for another couple of quarters. Despite this short-term challenge, Citi remains optimistic about Reliance’s long-term growth prospects across its diversified business verticals.

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Reliance Industries reported a 9.4 percent sequential growth in its July-September net profit to Rs 16,563 crore, driven by strong performance in its telecom and retail segments. Revenue from operations came at Rs 2.35 lakh crore for the September quarter, slightly lower than the Rs 2.36 lakh crore reported in the previous quarter.

Disclosure: Moneycontrol is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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