RIL shares hit 52-week high for fourth day, overbought on charts; what's next?
RIL shares: RIL stock has gained 24% in a year and risen 29% this year. The stock has gained 6% in a month.
- Nov 28, 2025,
- Updated Nov 28, 2025 10:21 AM IST
Shares of Reliance Industries Ltd hit their 52-week high for the fourth straight session today, taking the index heavyweight near the key Rs 1,600 mark. RIL shares rose nearly 1% to a peak of Rs 1578.95 today. Market cap of the Mukesh Ambani-led conglomerate rose to Rs 21.33 lakh crore mark. RIL stock has gained 24% in a year and risen 29% this year. The stock has gained 6% in a month.
Motilal Oswal has price target of Rs 1765 on the RIL stock.
The brokerage said RIL’s key long-term competitive advantage in battery manufacturing (and across new energy) remains scale, ability to undertake technologically complex projects, and an integrated and unique new energy ecosystem.
Referring to RIL's battery venture, the brokerage says the firm continues to progress on the 40GWh battery GIGA factory, which is set to commence operations in early CY26.
"We raise the New Energy business valuation for RIL to Rs 174/share (earlier Rs 116/share) as we incorporate value for the battery manufacturing segment," said Motilal Oswal.
The brokerage values the standalone business at 7.5x Dec’27 estimted EV/EBITDA to arrive at a valuation of Rs 411/share.
"We ascribe an equity valuation of Rs 585/sh to RJio and INR625/sh to Reliance Retail (factoring in the stake sale), as well as Rs 174/share to the New Energy business.We reiterate our BUY rating on the stock with a TP of Rs 1,765," said Motilal Oswal.
Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services is bullish on the stock with a price Target of Rs 1,620-1,660. Stop loss can be fixed at Rs 1,508.
"Reliance has broken out from a well-defined inverse head & shoulders pattern on the weekly chart, signalling a strong continuation of its broader uptrend. The breakout reflects renewed buying interest after a prolonged consolidation phase, supported by steady higher lows and firm positioning above key moving averages. This structure indicates strengthening bullish momentum, with the stock poised for further upside as long as it holds above the breakout zone," said Upadhyay.
Meanwhile, Swiss investment bank UBS has a 'Buy' rating on the market heavyweight. It has a target price of Rs 1,820 per share on the Mukesh Ambani-led conglomerate.
The stock fell to a 52-week low of Rs 1115.55 on April 7, 2025.
In terms of technicals, the relative strength index (RSI) of RIL stock stands at 71.9, signaling it's trading in overbought zone. RIL shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
UBS said strong refining trends are likely to drive a recovery in Reliance's oil-to-chemical (O2C) earnings.
Singapore benchmark margins are not reflecting the actual profitability of diesel-heavy refiners such ass Reliance, said UBS adding that the firm's diversified crude sourcing strategy helps cushion the impact of geopolitical volatility on margins.
EBITDA for the oil to chemical business (O2C) is likely to rise from Rs 29,500 crore in the first half of FY26 to Rs 34,000 crore in the second half, and further rise to Rs 64,800 crore in FY27, said the brokerage.
In Q2 of the current fiscal, RIL reported a 9.67 per cent year-on-year (YoY) rise in consolidated net profit for Q2 FY26. Profit attributable to shareholders stood at Rs 18,165 crore in Q2 against Rs 16,563 crore in the year-ago quarter. Revenue from operations climbed 9.94 per cent to Rs 2,58,898 crore during the quarter, compared with Rs 2,35,481 crore in Q2 FY25.
Shares of Reliance Industries Ltd hit their 52-week high for the fourth straight session today, taking the index heavyweight near the key Rs 1,600 mark. RIL shares rose nearly 1% to a peak of Rs 1578.95 today. Market cap of the Mukesh Ambani-led conglomerate rose to Rs 21.33 lakh crore mark. RIL stock has gained 24% in a year and risen 29% this year. The stock has gained 6% in a month.
Motilal Oswal has price target of Rs 1765 on the RIL stock.
The brokerage said RIL’s key long-term competitive advantage in battery manufacturing (and across new energy) remains scale, ability to undertake technologically complex projects, and an integrated and unique new energy ecosystem.
Referring to RIL's battery venture, the brokerage says the firm continues to progress on the 40GWh battery GIGA factory, which is set to commence operations in early CY26.
"We raise the New Energy business valuation for RIL to Rs 174/share (earlier Rs 116/share) as we incorporate value for the battery manufacturing segment," said Motilal Oswal.
The brokerage values the standalone business at 7.5x Dec’27 estimted EV/EBITDA to arrive at a valuation of Rs 411/share.
"We ascribe an equity valuation of Rs 585/sh to RJio and INR625/sh to Reliance Retail (factoring in the stake sale), as well as Rs 174/share to the New Energy business.We reiterate our BUY rating on the stock with a TP of Rs 1,765," said Motilal Oswal.
Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services is bullish on the stock with a price Target of Rs 1,620-1,660. Stop loss can be fixed at Rs 1,508.
"Reliance has broken out from a well-defined inverse head & shoulders pattern on the weekly chart, signalling a strong continuation of its broader uptrend. The breakout reflects renewed buying interest after a prolonged consolidation phase, supported by steady higher lows and firm positioning above key moving averages. This structure indicates strengthening bullish momentum, with the stock poised for further upside as long as it holds above the breakout zone," said Upadhyay.
Meanwhile, Swiss investment bank UBS has a 'Buy' rating on the market heavyweight. It has a target price of Rs 1,820 per share on the Mukesh Ambani-led conglomerate.
The stock fell to a 52-week low of Rs 1115.55 on April 7, 2025.
In terms of technicals, the relative strength index (RSI) of RIL stock stands at 71.9, signaling it's trading in overbought zone. RIL shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
UBS said strong refining trends are likely to drive a recovery in Reliance's oil-to-chemical (O2C) earnings.
Singapore benchmark margins are not reflecting the actual profitability of diesel-heavy refiners such ass Reliance, said UBS adding that the firm's diversified crude sourcing strategy helps cushion the impact of geopolitical volatility on margins.
EBITDA for the oil to chemical business (O2C) is likely to rise from Rs 29,500 crore in the first half of FY26 to Rs 34,000 crore in the second half, and further rise to Rs 64,800 crore in FY27, said the brokerage.
In Q2 of the current fiscal, RIL reported a 9.67 per cent year-on-year (YoY) rise in consolidated net profit for Q2 FY26. Profit attributable to shareholders stood at Rs 18,165 crore in Q2 against Rs 16,563 crore in the year-ago quarter. Revenue from operations climbed 9.94 per cent to Rs 2,58,898 crore during the quarter, compared with Rs 2,35,481 crore in Q2 FY25.