JP Morgan stays 'Overweight' on RIL, cites better outlook

JP Morgan has increased the price target for Reliance Industries. The firm maintains an 'Overweight' rating. This is due to a better earnings outlook over the next two years. Reliance shares have faced pressure. This pressure is from earnings cuts in FY25. The retail business is key to the conglomerate's valuation. An improved growth outlook could drive multiples up.