CLSA expects turnaround for Reliance Industries starting Q1FY26; retains ‘outperform’ with 14% upside

CLSA maintains an 'Outperform' rating for Reliance Industries, projecting a target price of ₹1,650. Anticipating improved Q1FY26 results, CLSA cites recovery in retail and telecom sectors, alongside strong subscriber growth for Jio, as key drivers for the stock's potential upside.

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