Shares of Reliance Industries Limited (RIL) are poised to finish the year 2025 as one of the standout performers within the Sensex basket of stocks. The heavyweight stock has delivered an impressive rally, significantly outperforming the broader market benchmark.
Robust Performance and Market Leadership
So far this year, the Reliance stock has leaped by 28% on the BSE. This surge starkly contrasts with the 8% gain recorded by the equity benchmark Sensex during the same period. On the last trading session of the week, Friday, December 19, RIL shares closed 1.34% higher at ₹1,565.10 on the BSE. On the National Stock Exchange (NSE), the Reliance share price settled at ₹1,564.90, marking a gain of 1.33%.
The stock is currently trading close to its all-time peak of ₹1,580.90, which it achieved on November 28, 2025. This represents a remarkable recovery from its 52-week low of ₹1,115.55, hit on April 7.
What's Fueling the Reliance Rally?
In a year of modest overall market performance, Reliance has captivated investor attention. Analysts attribute this to its well-diversified business model, sharp focus on key growth engines, and consistently healthy quarterly earnings.
Seema Srivastava, Senior Research Analyst at SMC Global Securities, emphasized that Reliance Industries stands out as a structurally robust and future-ready conglomerate. The company's Q2 FY26 results bolstered its investment appeal, showcasing a 9% year-on-year growth in Profit After Tax (PAT), a 16% jump in Profit Before Tax (PBT), and a 14.6% rise in EBITDA. This demonstrates the resilience of its earnings engine despite global market volatility. An 80 basis points expansion in margins highlights improving profitability across consumer businesses.
Srivastava noted that the Oil-to-Chemicals (O2C) segment benefited from Reliance's integrated complex, recovery in fuel cracks, and better polymer margins. Meanwhile, Jio continues to be a long-term growth pillar with steady subscriber additions, rising Average Revenue Per User (ARPU), and strategic investments in 5G, AI, and digital platforms.
The retail business is scaling rapidly, posting strong double-digit revenue and EBITDA growth. Aggressive store expansion and the rapid growth of JioMart's hyperlocal delivery are strengthening Reliance's omnichannel advantage. The media and streaming venture, JioStar, adds a high-margin digital growth vector.
Abhinav Tiwari, a research analyst at Bonanza, pointed out strategic shifts by Reliance towards more stable growth and enhanced shareholder value. A major positive catalyst was the upgrade of RIL's credit rating by S&P from BBB+ to A- in December 2025. This reflects stronger and more predictable earnings, with retail and digital businesses projected to contribute about 60% of operating cash flows by FY26.
Is It Time to Buy Reliance Shares?
Analysts remain bullish on the stock's prospects. Seema Srivastava believes Reliance shares could ascend to ₹1,700 over a one-year horizon, based on an expected P/E of 25.62 and an estimated FY27 EPS of ₹66.34. She highlighted Reliance's strategic investments in renewables, green hydrogen, and AI as value-unlocking initiatives for the next decade.
Abhinav Tiwari observed that Reliance is transitioning from a high capital expenditure phase to a cash-generating model, driven by retail recovery, Jio monetisation, and strong refining performance. Execution on these fronts will be crucial for further upside.
Technical Outlook and Key Levels
Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi, highlighted that Reliance is showing steady bullish traction. The stock has found support near a rising trendline and is trading above all major Daily Exponential Moving Averages (DEMA). A visible cup-and-handle breakout on the monthly chart suggests a sustained upward move. Patel suggests a potential upside target of ₹1,680, with a stop-loss at ₹1,470 on a daily closing basis.
Aakash Shah, a research analyst at Choice Broking, recommends Reliance as a buy for positional and long-term investors. The stock trading above its key EMAs confirms a bullish trend. The 20-day EMA near ₹1,540 acts as immediate support, while the 50-day EMA around ₹1,505 offers stronger positional support. Shah sees an upside potential towards the ₹1,700–1,750 zone, with a 12-month target of ₹1,777. The crucial support zone is placed at ₹1,470–1,460.
Disclaimer: This article is for educational purposes only. The views and recommendations are those of individual analysts. Investors are advised to consult certified experts before making any investment decisions, as market conditions are subject to change.
