Reliance Shares Surge on Upbeat Brokerage Outlook

Industries (RIL) shares continued their upward trajectory, rising over 3% for the third consecutive day, fueled by positive brokerage reports. Macquarie upgraded its recommendation to "Outperform" with a target price of Rs 1,500, citing improved earnings momentum and the potential listing of Jio. This follows earlier bullish calls from Jefferies, which reiterated a "Buy" rating with a target of Rs 1,600, highlighting growth potential in the retail sector and possible telecom tariff hikes. Friday on the NSE, RIL shares, making it the top contributor to the Sensex's gains. Macquarie analysts noted that consensus earnings estimates for FY26 and FY27 now appear "fair" after previous reductions, boosting investor confidence. This sustained positive sentiment reflects strong belief in Reliance's diverse business portfolio and future growth prospects.