Nuvama retains INR 1,766 target for Reliance stock
Published on 10/01/2026 at 12:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Reliance Industries (ISIN INE002A01018) has an INR 1,766 analyst target from Nuvama, which retained its Buy rating on October 1, 2026, ahead of the company’s second-quarter fiscal 2027 results. The target follows recent weakness in the stock and puts the brokerage’s operating outlook at the center of the Reliance investment case.
Nuvama lifts earnings expectations
According to Business Today on October 1, 2026, Nuvama raised its forecast for consolidated EBITDA growth in the September quarter to 17.00 percent year over year from 12.00 percent. It expects profit after tax of INR 209.00 billion, up 15.00 percent year over year, and consolidated EBITDA of INR 537.00 billion.
ET Now reported on October 1, 2026, that Nuvama expects oil-to-chemicals EBITDA to rise 38.00 percent year over year to INR 207.00 billion. Digital EBITDA is forecast to increase 16.00 percent to INR 219.00 billion, while retail EBITDA is expected to decline 1.00 percent.
First-quarter growth sets the base
Reliance reported gross revenue of INR 3.40 trillion in the first quarter of fiscal 2027, up 24.50 percent year over year, according to the company results carried by FintechBizNews on July 17, 2026. Profit after tax and share of profit from associates and joint ventures rose 6.10 percent to INR 231.96 billion, while EBITDA increased 10.10 percent to INR 540.67 billion.
The comparison matters because the next quarter combines stronger refining economics with mixed segment trends. Nuvama forecasts crude throughput of 20.00 million tonnes, up 10.00 percent sequentially, while retail margin is expected to remain at 7.50 percent.
Stock remains near its yearly low
On October 1, 2026, Reliance Industries traded at INR 1,175.90 on the NSE at 12:17 p.m. IST, versus the prior close of INR 1,187.00. The NSE page lists an intraday high of INR 1,183.90, a low of INR 1,174.10 and a 52-week high of INR 1,611.80.
The NSE India listing confirms Reliance Industries as ticker RELIANCE and identifies refineries and marketing as its basic industry. The finance quote showed market capitalization of INR 15.8 trillion on October 1, 2026, giving the earnings preview a large-cap valuation context.
Reliance Industries stock facts
- Company: Reliance Industries Limited
- ISIN: INE002A01018
- Ticker: RELIANCE
- Primary exchange: NSE India
- Market capitalization: INR 15.8 trillion (as of October 1, 2026)
- 52-week range: INR 1,174.10-1,611.80 (as of October 1, 2026)
- Sector / Industry: Energy / Refineries and marketing
More news and analyses on Reliance stock are available via the Reliance stock topic page.
