Reliance Industries Stock Update: Shares Jump 1.35% on Brokerage Calls
Reliance Industries (NSE: RELIANCE) share price surges 1.35% to ₹1,297.10 in early trade, fueled by recent bullish brokerage reports and optimism.
Reliance Industries Ltd (RELIANCE) is witnessing strong buying interest in early Friday trading, with its shares currently trading at ₹1,297.10, marking a robust gain of 1.35% from its previous close of ₹1,279.80. The stock opened higher at ₹1,291.90 and has since climbed to an intraday high of ₹1,298.00, with a low of ₹1,287.80. The early session has seen a significant volume of 988,582 shares change hands, suggesting surging investor participation as the market responds to recent developments.
| RELIANCE – Stock Updates as of (9:24AM, 10 Jul 2026) | |||
LTP ₹1,297.10 | Open ₹1,291.90 | High ₹1,298.00 | Low ₹1,287.80 |
52W High ₹0.00 | 52W Low ₹0.00 | Volume 988,582 | % Chg +1.35% |
52-Week Context
RELIANCE is presently trading closer to its 52-week low, which stands at ₹1,253.20. The stock had previously hit a 52-week high of ₹1,611.80 in January this year, before experiencing a correction that brought it down by over 22% to its recent annual low last month. While it saw a brief recovery, today's positive move is a notable attempt to distance itself from these lower annual levels. The current price points to the stock being in the lower half of its yearly trading range, with today's rally testing psychological resistance points after a period of downward pressure.
Latest Developments
The primary drivers behind RELIANCE's strong performance today appear to stem from recent bullish calls by leading brokerages and the continued optimism surrounding its diversified business segments. Yesterday, July 9, 2026, several prominent brokerage firms reiterated positive outlooks on Reliance Industries. Global brokerage CLSA maintained an 'Outperform' rating on RIL with a target price of ₹1,800. This optimistic view is underpinned by the company's ambitious green energy rollout, a potential technology-led re-rating, and the anticipated public listing of its telecom business, Jio Platforms. JPMorgan also maintained an 'Overweight' rating, setting a target price of ₹1,660. Their positive stance is supported by the continued strength in Reliance's refining and petrochemical spreads, a weaker Indian Rupee, and the upcoming commissioning of new energy businesses. Similarly, Emkay Global has issued a 'Buy' call on the stock with a target price of ₹1,680.
These analyst upgrades and sustained positive commentaries are providing a strong tailwind for the stock. While the company recently received an administrative warning from the market regulator SEBI on July 7, 2026, concerning alleged insider trading violations from July 2024, the company clarified that the warning is cautionary and does not impose any financial or operational restrictions, seemingly mitigating its impact on current investor sentiment. Furthermore, the broader telecom sector is anticipating a 12-15% tariff hike over the next few months, which could significantly benefit Reliance Jio, a key growth driver for the conglomerate.
Outlook
Investors will closely watch for sustained buying interest and any further corporate announcements that could provide additional momentum for RELIANCE throughout the trading session. The stock's ability to hold above key support levels and consolidate its gains will be crucial for determining its near-term trajectory.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on Jul 10, 2026 09:24 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
