Nuvama keeps INR 1,766.00 target for Reliance stock
Published on 10/13/2026 at 13:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS- Nuvama retained its Buy rating and INR 1,766.00 target on October 1, 2026.
- Reliance reported fiscal 2026 revenue of INR 11.76 trillion, up 9.80 percent year over year.
- Reliance stock was last at INR 1,166.70 on the NSE on October 13, 2026 at 3:28 p.m. IST, plus 0.67 percent versus the October 12, 2026 prior close.
- Reliance traded at a price-to-earnings ratio of 21.13, with market capitalization of INR 15.8 trillion on October 13, 2026.
Nuvama retained its Buy rating and INR 1,766.00 target for Reliance on October 1, 2026, putting the target 51.37 percent above the NSE price of INR 1,166.70. BusinessToday reported that the brokerage kept its estimates and target unchanged ahead of the September quarter results. Reliance stock was last at INR 1,166.70 on the NSE on October 13, 2026 at 3:28 p.m. IST, plus 0.67 percent versus the prior close of October 12, 2026 at INR 1,158.90.
Fiscal 2026 revenue reaches INR 11.76 trillion
Reliance reported consolidated revenue of INR 11.76 trillion for fiscal 2026, up 9.80 percent from the previous year. Net profit reached INR 957.54 billion, an increase of 17.80 percent, while EBITDA rose to INR 2.08 trillion from INR 975.80 billion in fiscal 2021.
Reliance Industries also said Jio Platforms generated fiscal 2026 revenue of INR 1.47 trillion, up 14.60 percent, with an EBITDA margin of 51.90 percent. These figures give the analyst target a measurable operating backdrop across digital services, retail and energy.
Stock stays near its yearly low
The NSE quote stood 1.26 percent above the 52-week low of INR 1,152.20 and 27.62 percent below the 52-week high of INR 1,611.80 on October 13, 2026. The session range ran from INR 1,152.20 to INR 1,168.30, while volume reached 10,983,647 shares against an average of 11,958,739.
The contrast is important for market positioning: Reliance has recovered only 0.67 percent from the October 12 close, while its annual range still places the stock much closer to its low than its high. That gap leaves operating execution and the planned digital-services expansion as the main measurable themes behind the current valuation.
Valuation and market scale
Reliance had a market capitalization of INR 15.8 trillion and a price-to-earnings ratio of 21.13 on October 13, 2026. Its trailing dividend yield was 0.01 percent. The company operates across energy, digital services, retail, media and new energy, giving the valuation exposure to several business cycles rather than a single segment.
Comparison with peers
Reliance (NSE, INR): plus 0.67 percent, P/E 21.13, market capitalization INR 15.8 trillion
Bharti Airtel (NSE, INR): plus 1.56 percent, P/E 37.99, market capitalization INR 11.3 trillion
Tata Motors (NSE, INR): plus 2.83 percent, P/E 36.55, market capitalization INR 1.5 trillion
NSE price remains the closing reference
Reliance's October 13 quote was 0.67 percent above the October 12 NSE close, while the stock remained 27.62 percent below its 52-week high. The next major market marker is the September-quarter reporting cycle, which Nuvama used for its INR 1,766.00 target assessment.
Market context: Market report Shanghai Composite.
More news and analyses on Reliance stock
Reliance stock facts
- Company: Reliance Industries Limited
- ISIN: INE002A01018
- Ticker: RELIANCE
- Primary exchange: NSE
- Price on NSE (as of October 13, 2026, 3:28 p.m. IST): INR 1,166.70
- Change versus prior close: plus 0.67 percent
- Prior close (October 12, 2026): INR 1,158.90
- Market capitalization: INR 15.8 trillion (as of October 13, 2026)
- 52-week range: INR 1,152.20-1,611.80 (as of October 13, 2026)
- Price-to-earnings ratio: 21.13
- Dividend yield: 0.01 percent
