New Delhi, Oct. 13 -- Reliance Industries (RIL) could be approaching a turning point, with the proposed listing of Jio Platforms emerging as a potential trigger for a re-rating of the conglomerate's shares. Religare Broking has recommended buying the stock, citing the prospect of value unlocking through the Jio IPO, improving cash flows and growth opportunities across its businesses.

In a strategic research note dated October 13, 2026, Religare assigned a target price of Rs.1,696 per share to Reliance Industries, compared with its closing reference price of Rs.1,156 as of October 12. This implies a potential upside of 46.7%, according to the brokerage.

"We maintain a conviction BUY rating on Reliance Industries Ltd. with a Target Price ...