Analyst sees Reliance’s ₹5.6 lakh crore capex and diversification into AI, retail, and energy as key investor triggers. Technicals show support at ₹1,300 and long-term upside beyond ₹1,600.
Reliance shares traded under pressure on Monday. In its 48th Annual General Meeting (AGM), the company announced plans to list Jio Platforms by the first half of 2026.
Reliance Industries’ AGM provided a detailed roadmap indicating where investors’ money could potentially multiply over the next six to eight years, according to Saurabh Sahu, a SEBI-registered analyst.
Why This AGM Matters For Investors?
Reliance has become the first Indian company to cross $125 billion in revenues, alongside achieving a net profit exceeding ₹81,000 crore. Sahu noted that the aggressive capital expenditure plan of ₹5.6 lakh crore over the next three years signals strong investments aimed at future growth. For investors, this means that Reliance is accelerating its growth ambitions rather than slowing down, effectively doubling its bets.
Growth Engines To Watch
Jio, with over 500 million subscribers is eyeing its IPO in the first half of 2026.
The retail segment has more than 19,000 stores and 349 million customers, targeting a 20% compound annual growth rate (CAGR).
Reliance Consumer Products (RCPL), the company’s FMCG arm, is on track to reach ₹1 lakh crore in revenue within five years and is currently the fastest-growing segment of the company.
The energy and O2C (Oil-to-Chemicals) divisions are diversifying into specialty chemicals, carbon fiber, and green fuels, while New Energy is investing in giga-factories expected to supply 10% of India’s power needs.
In the media space, JioHotstar has gained 300 million paid users within three months, becoming the world’s second-largest streaming platform.
The AI Cloud Play
A key highlight of the AGM was Reliance’s strategic partnership with Google to launch India’s first AI Cloud Region at Jamnagar. The facility will be powered by renewable energy and integrated with Jio’s network backbone, hosting Google’s AI Hypercomputer to support startups, enterprises, and small-to-medium businesses.
Reliance Chairman Mukesh Ambani expressed confidence that India will become a leader in artificial intelligence, while Google CEO Sundar Pichai described this development as the next transformational leap after the democratization of the internet.
Sahu highlighted that for investors, this represents an opportunity to gain exposure to the rapidly evolving sectors of AI, cloud computing, and India’s growth through a single stock.
RIL Stock: Technical Outlook
Sahu pegged support at ₹1,300 and ₹1,250, with resistance at ₹1,450 and ₹1,550. Over the course of the next year or more, a bullish scenario could see prices rise above ₹1,600 if the resistance at ₹1,520 is breached. The base case shows consolidation around ₹1,300–₹1,450, with a gradual upward move. A bearish scenario occurs if Reliance stock fails to hold ₹1,300, leading to declines towards ₹1,200.
For traders, Sahu advised watching the ₹1,300 level closely, while long-term investors may find that the current zone offers a favorable risk-reward opportunity.
What Analysts Are Expecting?
According to Sahu, analysts have pegged FY26 profit growth at +15-20%, with earnings per share increasing from ₹52 to ₹67 by FY27. The target price range stands at ₹1,600 to ₹1,650 on a post-split basis. The market consensus reflects optimism around a profit rebound complemented by IPO triggers from Jio.
Sahu concluded that for long-term investors, this presents a significant opportunity to participate in India’s global-scale growth story through Reliance. Short-term traders should closely monitor the ₹1,300 level.
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