Goldman Sachs Adds Reliance to Conviction List

Goldman Sachs added Reliance Industries to its Asia Pacific Conviction List.

They believe four things will make the company's stock price go up.

First, they think Reliance will make more money refining oil.

Second, they see the retail business doing better.

Third, they expect Jio, Reliance's telecom business, to raise prices.

Finally, they think new energy projects starting in 2026 will help.

Goldman Sachs set a price target for the stock and noted it has already started to do well.

They anticipate Reliance’s EBITDA growth will accelerate.

The stock has outperformed the Sensex Index recently.