RIL Shares Hit 52-Week High as Analysts Expect Margin Gains and Stronger Retail, Telecom Performance

Shares of Reliance Industries Ltd (RIL) climbed to a new 52-week high on Thursday, supported by improving sector indicators and renewed confidence in the conglomerate’s diverse business portfolio. Market experts attribute the rise largely to favourable refining margins and strategic adjustments in the company’s crude sourcing.

Analyst Mayuresh Joshi of William O’Neil India said recent trends in the Singapore Gross Refining Margin (GRM) are working in Reliance’s favour. With GRMs currently in the range of $9 to $9.5, and Reliance traditionally enjoying a premium of $4 to $5, he noted that stabilisation in the $7–10 range could significantly enhance the company’s profitability in upcoming quarters. He added that Reliance’s move to discontinue imports of Russian crude is also expected to support margin stability and improve operational efficiency.

Beyond refining, analysts see robust potential in Reliance’s retail and telecom (Jio) divisions. Joshi believes both segments are positioned for strong growth and improved returns as the company continues to scale operations, expand consumer offerings, and integrate technological upgrades. He forecasted that the return on equity for these businesses is likely to strengthen considerably by FY27, especially as Reliance accelerates investments in its new energy initiatives.

Another advantage for the company is its diversified feedstock strategy, which gives it flexibility to manage volatility in global crude markets. This adaptability, experts say, helps the conglomerate maintain a stable refining outlook even amid fluctuating international conditions.

Overall, investor sentiment remains upbeat, with expectations that Reliance’s integrated growth strategy across energy, retail, and digital services will support sustained margin expansion in the medium term.