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Investing.com - CLSA has reiterated an Outperform rating on Reliance Industries (RELIANCE:IN) with a price target of INR1,650.00, citing better-than-expected quarterly results.
The company’s 2QFY26 consolidated EBITDA and EBIT came in 4% above CLSA’s forecast, driven by strong performance in both telecom and retail segments, while the O2C division met expectations.
Reliance Retail showed promising signs of recovery with revenue and EBITDA growing 17%-19% year-over-year, potentially ending five consecutive quarters of subdued growth.
CLSA highlighted strong key performance indicators in Reliance’s media and FMCG businesses, while noting encouraging progress in quick commerce and new energy initiatives.
The investment firm identified several potential catalysts for the stock within the next 12 months, including the ramp-up of new energy projects, a possible Reliance Jio IPO, and continued development in FMCG, media, quick-commerce, and AI businesses.
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