Reliance Industries shares may see further upside in the near term

Reliance Industries’ shares closed the day today, 10^th November, 2025 up by 0.82% at Rs 1,490.10. Nifty 50 index closed the day, up by 0.32%.

Reliance Industries shares gained today after a major brokerage house gave Overweight recommendation on the stock. Reliance Industries’ shares have outperformed in 2025. Year-to-date (YTD) in 2025 the stock has gained 22.01%. Nifty 50 index has gained 7.71% in this period. Reliance shares have outperformed the Nifty 50 index by more than 14% this year.

Nifty Oil & gas index has gained 11.60% YTD in 2025. Reliance Industries has outperformed the index by around 11% this year. Reliance has currently the highest weight, at 33.42%, in this index.

Lower crude oil prices good for refining margins of Reliance

Lower crude oil prices are beneficial for Reliance Industries. The company runs the biggest oil refinery in Jamnagar in Gujarat. It refines crude oil into end user products such as gasoline, diesel, propylene etc. Lower crude oil prices tend to improve its gross refining margin.

Reliance Industries’ retail and telecom businesses give it diversification. Reliance Industries also holds around 47% stake in Jio Financial Services. It is also investing in building data centers. All these things make Reliance a stock with good potential for future.

Stock looks to be relatively undervalued

Reliance Industries’ shares are currently trading at 12 month trailing price to earnings (P/E) ratio of around 24.27. When compared to the multiples at which many other stocks are trading in Indian equity markets, Reliance’s shares seem to be relatively undervalued.

52-week high price of the stock currently is Rs 1,551. 52-week low price of the stock is Rs 1,114.85. The stock may see further upside in the near term.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE