Jefferies maintains its bullish stance on Reliance Industries with a Rs 1,710 price target, projecting substantial upside potential amid favorable market dynamics. The investment thesis is anchored on three key drivers: expanding refining margins benefiting from constrained global fuel supplies, resilient petrochemical spreads, and strategic positioning in energy markets. These factors position Reliance to capitalize on structural supply-demand imbalances reshaping the energy sector globally.

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