Brokerages upgrade Reliance outlook after Q2 surge
Brokerages including Morgan Stanley, JM Financial, and Macquarie have raised their outlook for Reliance Industries after strong September quarter results. Growth rebounded across retail, digital, and refining segments, with retail revenue up 22% YoY. Analysts project 15-20% EPS CAGR and expect RIL's AI, energy, and consumer businesses to drive fresh value creation.