Religare sets INR 1,696 target for Reliance stock

Published on 10/14/2026 at 09:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2026 revenue was INR 11.76 trillion, up 9.80 percent. Reliance stock costs INR 1,185.10 on October 14, 2026, up 1.58 percent on NSE.

Targets and operating scale

Religare assigned an INR 1,696.00 target to Reliance Industries on October 13, 2026.
Fiscal 2026 revenue reached USD 124.0 billion, up 9.80 percent year over year.
Reliance stock costs INR 1,185.10 on October 14, 2026 at 12:54 p.m. IST, up 1.58 percent on NSE.
Reliance had a market capitalization of INR 16.0 trillion and a P/E ratio of 21.46.

Reliance, INE002A01018, Illustration mit AI erstellt.

Religare assigned an INR 1,696.00 target to Reliance Industries in a strategic note dated October 13, 2026, according to TradingView. The target lies 43.11 percent above the INR 1,185.10 NSE price. Reliance was trading at INR 1,185.10 on October 14, 2026 at 12:54 p.m. IST, up 1.58 percent on the day on NSE.

Fiscal 2026 delivered double-digit profit growth

Reliance reported consolidated fiscal 2026 revenue of USD 124.0 billion, up 9.80 percent year over year, and net profit of USD 10.1 billion, up 17.80 percent. The figures come from the company investor-relations page, which also reported fiscal 2026 EBITDA of USD 21.9 billion, up from USD 10.3 billion in fiscal 2021.

Digital and retail operations accounted for nearly half of fiscal 2026 EBITDA, while the company reported consolidated capital expenditure of USD 15.2 billion for the year. These figures give the target a broad operating backdrop beyond the proposed digital-services listing discussed in the analyst note.

Stock stays near its yearly low

The NSE price range for October 14 placed Reliance at INR 1,152.20 to INR 1,611.80 over 52 weeks. At INR 1,185.10, the stock stood 2.86 percent above its 52-week low and 26.48 percent below its 52-week high.

The NSE also showed a year-to-date return of minus 25.95 percent for Reliance on October 13, compared with minus 13.10 percent for the NIFTY 50. That gap puts the company-specific share-price trend in sharper relief than the one-day gain alone.

Market value and peer comparison

Reliance had a market capitalization of INR 16.0 trillion, a P/E ratio of 21.46 and a trailing dividend yield of 0.01 percent as of October 14, 2026. The earnings multiple sits above the figures for two large Indian energy peers.

Comparison with peers

Reliance: plus 1.58 percent, P/E 21.46, market capitalization INR 16.0 trillion.
Oil and Natural Gas Corporation (NSE, INR): plus 0.88 percent, P/E 6.49, market capitalization INR 2.8 trillion.
Indian Oil Corporation (NSE, INR): plus 0.92 percent, P/E 5.21, market capitalization INR 1.8 trillion.

What the target implies

Religare's INR 1,696.00 target is 43.11 percent above the October 14 NSE price, while the stock is only 2.86 percent above its 52-week low. The combination leaves the analyst target as a clear valuation reference, but the fiscal 2026 revenue and profit figures remain the operating test for that view.