Reliance Industries Shares Rally on Jio Price Hike, Consumer Biz Push; Jefferies Retains BUY Rating, Cuts TP

Reliance Industries shares surged over 2% in Tuesday's trading session after two major development announcements made by the company. Reliance Jio announced prepaid tariff changes, and Reliance Consumer Products Limited (RCPL) entered a new joint venture in the fast-growing functional beverages segment. The rally in Reliance Industries shares today was seen after the oil stock traded in a range-bound manner in the last few days.

Reliance Jio Discontinues 1GB/Day Plans

Reliance Jio, the telecom arm of RIL, has revised its prepaid plans by discontinuing entry-level packs. The popular Rs. 209 plan for 22 days and Rs. 249 plan for 28 days with 1GB/day data have been removed.

Instead, the new entry point begins at Rs. 299 for 1.5 GB/day with 28-day validity, aligning Jio's pricing with rivals Bharti Airtel and Vodafone Idea, both of which already charge Rs. 299 for similar plans.

Analysts believe the move could boost average revenue per user (ARPU) and improve overall telecom sector profitability.

Reliance Expands Consumer Arm with Naturedge JV

Reliance Consumer Products Limited (RCPL) announced the acquisition of a majority stake in a joint venture with Naturedge Beverages Pvt Ltd, entering into the healthy functional beverage market. RCPL plans to strengthen its positioning as a 'Total Beverage Company', offering herbal and natural drinks to cater to India's fast rising health-conscious consumer base.

RIL is the parent of RCPL, which runs a focused FMCG business that includes brands such as Campa, Independence, and Snac Tac, among others. Currently, RCPL is India's fastest-growing FMCG business, with 1QFY26 revenue of Rs. 4,400 crore, growing 2x YoY, as per company data.

Reliance Industries Share Price Today

As of 2:00 pm, Reliance Industries shares were trading at Rs. 1,416.50, up Rs. 34.80 or 2.52% from the previous close. The RIL stock has delivered a 15.39% gain over the past six months and is a major key performer in the Nifty heavyweight basket.

Brokerage View, Target Price & Outlook

Jefferies has maintained a "BUY" rating on Reliance Industries Limited (RIL) but trimmed its target price to Rs. 1,670 from the earlier Rs. 1,726. The brokerage firm, in its report, said that "RIL's annual report shows a rise in capitalised costs in Jio and Retail. It noted that free cash flow (FCF) improvement is being driven by Jio, despite a marginal rise in net debt."

"Going forward, RIL's key priorities include strengthening home broadband and enterprise services in Jio, boosting growth in retail with a focus on FMCG, and expanding renewable initiatives within the oil-to-chemicals (O2C) segment."

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