India's Reliance hits 14-month high, eyes third monthly gains on improving earnings outlook
Reliance Industries RELI.NS gains 5.2% in November and is on track for a jump of about a 16% in three months
RELI shares rise as much as 1.1% on the day to a 16-month high; last trading 0.5 higher%
Multiple brokerages including J.P. Morgan, Investec and Jefferies reiterate a positive view on RELI this week, citing improving earnings and double-digit growth in retail, consumer and oil-to-chemicals businesses
Jefferies maintains "buy" and raises PT to 1,785 rupees from 1,780 rupees
Expects gains in consumer business in 2026 due to deepening distribution in staples, beverages, beauty segments
Notes stronger festive demand is boosting retail profitability, with elevated refining margins also a positive
Likely telecom tariff hikes and a planned IPO of Jio Platforms in the first half of 2026 to also support earnings - Jefferies
YTD, RELI is up ~29%, surpassing Nifty 50's .NSEI 11% rise
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