Reliance Industries share price target: What are brokerages saying after Q1 results?

Reliance Industries reported a 25% YoY rise in revenue to Rs 3.11 lakh crore for Q1 FY27, while EBITDA grew 10% YoY to Rs 54,067 crore, beating street estimates. Net profit fell 22% YoY to Rs 20,946 crore due to a high base from an exceptional gain on the Asian Paints stake sale last year. Brokerages including Morgan Stanley (Overweight, top pick), Nomura (Buy, target Rs 1,690), MOSL (Buy, target Rs 1,550), Nuvama (Buy, target Rs 1,765), and Emkay (Buy, target Rs 1,680) remain bullish, citing strong O2C and upstream performance, GRM of $14.5/barrel, and management confidence in doubling Retail EBITDA by FY29.