Reliance share price extends gains to fourth straight session. Time to buy the stock?

Reliance Industries shares rose 2% to ₹1,333.35, extending a four-session rally with nearly 6% gains, supported by positive global cues including US-Iran peace deal optimism and Strait of Hormuz reopening. Equirus Securities upgraded the stock to 'Long' from 'Add' with a September 2027 target of ₹1,586, while Morgan Stanley maintained an 'Overweight' rating with a target of ₹1,803, citing attractive valuations with forward P/E at ~19x and EV/EBITDA near multi-year troughs. Analysts see favorable risk-reward with telecom and retail driving ~7% consolidated EBITDA CAGR over FY26–28E.