Reliance Industries set for 22% upside? JPMorgan reveals 3 factors driving the surge

JPMorgan rates Reliance Industries as Overweight with a price target of Rs 1,695 per share, indicating a 22% rise. Bharti Airtel and DMart valuations have also risen, supporting RIL’s valuation argument. RIL is expected to have positive free cash flow despite high capex. Growth drivers include better commodity spreads, higher telecom tariffs, and a potential […]