Prabhudas Lilladher Recommends 'BUY' on Reliance Industries; Target Rs 1683
Business
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Moneycontrol•19-01-2026, 14:30
Prabhudas Lilladher Recommends 'BUY' on Reliance Industries; Target Rs 1683
- •Reliance Industries (RIL) reported consolidated EBITDA of Rs460.2bn, flat QoQ and up 5.0% YoY, with adjusted PAT growing 2.6% YoY to Rs186.5bn.
- •Performance was primarily driven by Jio Platforms Ltd (JPL) and the O2C segment, despite weaknesses in O&G and Retail businesses.
- •Jio ARPU remained resilient at Rs213.7, with 8.9mn subscriber additions, bringing the total subscriber base to 515.3mn.
- •New energy projects are on track, with nearly all of the Rs750bn capex either spent or under implementation.
- •Prabhudas Lilladher maintains a 'BUY' rating on RIL, citing strong digital business momentum and progress in New Energy, with a revised target price of Rs1,683.
Why It Matters: Prabhudas Lilladher recommends buying Reliance Industries shares, setting a target price of Rs 1683.
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