Reliance Industries Returns to Spotlight

Reliance Industries Ltd (RIL), India's most valuable firm by market capitalization, has returned to the spotlight as its share price inches closer to its all-time high. On July 8, 2025, the stock declined 0.4 percent intraday to hit a low of ₹1,534.55, just 4.6 percent away from its historic peak of ₹1,608.95 recorded exactly a year earlier.

This comes on the back of a strong recovery rally, with the stock rebounding nearly 38 percent from its 52-week low of ₹1,115.55 touched in April 2025. With RIL's diversified businesses and renewed interest from top brokerages, investors are once again evaluating the stock's potential upside.

Brokerage Views Support Upside Narrative

Brokerages have been largely optimistic about RIL's prospects, highlighting its aggressive push into next-generation sectors such as new energy and AI infrastructure, alongside robust core businesses in oil-to-chemicals (O2C), telecom, and retail. Morgan Stanley reiterated its overweight stance on the stock, setting a price target of ₹1,617, implying an upside of over 5 percent from the stock's July 8 levels.

Morgan Stanley noted that RIL's ambitions in the new energy business appear "more transformational and global" than any of its past initiatives. It highlighted the company's plans to build an artificial intelligence (AI) infrastructure at its Jamnagar facility, targeting a rollout within two years.