RELIANCE
Reliance Industries Limited
Each stock's 10,000-path forecast, rendered as light.
Reliance Industries Limited (RELIANCE) Stock Analysis & Case Study
Is RELIANCE a good buy? The data-driven verdict.
Reliance Industries Limited (RELIANCE) trades at ₹1,335,on the numbers it worth a closer look, a Downstox Snapshot Score of 60/100.
On the numbers, Reliance Industries Limited (RELIANCE) worth a closer look, a Downstox Snapshot Score of 60/100, weighing fairly valued at 24.2× earnings, ROE of 8.9%, a 69% model probability of trading higher in a year. Below: the full bull case, bear case, sector-relative valuation, and a probability-weighted price target for 2027-2031.
Last updated . Data snapshot for research, not investment advice.
RELIANCE fundamentals at a glance, PE, PB, ROE, ROCE, market cap, dividend yield
How RELIANCE ranks against the 2,373 companies in our screener
- RELIANCE's market cap of 18.06L Cr ranks in the top 1% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- RELIANCE's book value of ₹668 ranks in the 93rd percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- RELIANCE's promoter holding of 50.5% ranks in the 31st percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- RELIANCE's 3-year profit (PAT) growth of 5.0% ranks in the 35th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- RELIANCE's 3-year revenue growth of 6.0% ranks in the 38th percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- RELIANCE's debt-to-equity ratio of 0.45x is lower than 39% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
Is RELIANCE overvalued? RELIANCE P/E vs its Energy
RELIANCE's P/E of 24.2× sits above the Energy peer median of 10.8×, so on earnings it screens richer than peers, while its 0.45% dividend yield is below the peer median of 3.56%.
RELIANCE share price target 2027, 2028, 2029, 2030, 2031, a probability view
Unlike a single guessed number, this is a probability-weighted range from a 10,000-path Monte-Carlo simulation on 9.8y of RELIANCE history (18%/yr drift, 21%/yr volatility).
| Year | Low (P10) | Median target (P50) | High (P90) | Upside vs today |
|---|---|---|---|---|
| RELIANCE 2027 | ₹1,139 | ₹1,484 | ₹1,934 | +11% |
| RELIANCE 2028 | ₹1,135 | ₹1,650 | ₹2,399 | +24% |
| RELIANCE 2029 | ₹1,163 | ₹1,835 | ₹2,894 | +37% |
| RELIANCE 2030 | ₹1,203 | ₹2,040 | ₹3,460 | +53% |
| RELIANCE 2031 | ₹1,253 | ₹2,268 | ₹4,107 | +70% |
Median (P50) is the central estimate; the P10-P90 band is the 80% confidence range. Probabilities, not promises.
What is the probability RELIANCE goes up, or doubles?
The bull case for RELIANCE
- RELIANCE's P/E of 24.2x is lower than 55% of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- A 10,000-path probability model puts a 69% chance the price is higher in a year, with a median target of ₹1,484 (+11%).
- Relatively low volatility (21%/yr), a steadier ride than the typical mid/small-cap.
- Upside scenario: the model's optimistic (P90) 3-year path reaches ₹2,894.
The bear case & risks
- RELIANCE's return on equity of 8.9% ranks in the 43rd percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.
- Downside scenario: the model's pessimistic (P10) 3-year path falls to ₹1,163.
RELIANCE volatility & expected range, how bumpy is the ride?
Over the last 9.8 years RELIANCE compounded at 18%/year with annualized volatility of 21%. That volatility implies a 1-year 80% range of ₹1,139-₹1,934, the honest backbone behind any single price target.
RELIANCE price forecast, the full 60-month probability fan
RELIANCE price probability fan
Each band shows where 10,000 simulated paths land. The wider the fan, the more uncertainty.
Probability of key outcomes
What are the odds RELIANCE hits common targets within the simulated horizon?
Full multi-horizon detail on the RELIANCE price target & forecast page.
RELIANCE Piotroski F-Score: 6/8, how financially strong is it?
The Piotroski F-Score grades financial strength on profitability, leverage and efficiency checks. Downstox scores the eight checks it can verify from published filings, so 8 is full marks. RELIANCE scores 6/8, mixed financial health.
RELIANCE MTF margin & leverage across 11 brokers
Margin Trading Facility lets you buy RELIANCE with part of the capital. Lower margin % = higher leverage. Rates compared across 11 brokers (no competitor publishes this):
| Broker | Margin required | Approx. leverage |
|---|---|---|
| Upstox | 23.00% | 4.3× |
| Zerodha | 22.60% | 4.4× |
| Groww | 22.56% | 4.4× |
| Dhan | 22.00% | 4.5× |
| Kotak NeoCHEAPEST | 20.00% | 5.0× |
| Paytm MoneyCHEAPEST | 20.00% | 5.0× |
| Pocketful | 26.50% | 3.8× |
| Fyers | 27.03% | 3.7× |
| Anand Rathi | 26.50% | 3.8× |
| Bajaj Broking | 23.00% | 4.3× |
| Share India | 26.50% | 3.8× |
Compare every broker on the RELIANCE MTF page.
RELIANCE vs peers,Energy comparison
| Stock | P/E | Div yield | Market cap |
|---|---|---|---|
| RELIANCE (this stock) | 24.2× | 0.45% | ₹18.06L Cr |
| BPCL | 9.0× | 5.45% | ₹1.39L Cr |
| ONGC | 6.9× | 5.13% | ₹3.00L Cr |
| IOC | 6.0× | 5.75% | ₹2.02L Cr |
| GAIL | 11.6× | 2.88% | ₹1.14L Cr |
| IGL | 13.7× | 2.14% | ₹21,272 Cr |
| PETRONET | 10.8× | 3.56% | ₹42,090 Cr |
Fundamentals from Screener.in, as of 9 Aug 2026
About Reliance Industries Limited: sector, index & market-cap context
Reliance Industries Limited (RELIANCE) is a large-cap NSE-listed company in the Energy sector, and a constituent of the Nifty 50 index, with a market capitalisation of ₹18.06L Cr. See more stocks on our screener.
How the RELIANCE Snapshot Score & forecast are built
The Downstox Snapshot Score is a transparent, rules-based read of Reliance Industries Limited's public fundamentals plus a statistical forecast, not an analyst opinion. It rewards low-to-fair valuation, high ROE/ROCE, a strong Piotroski F-Score, a dividend, low volatility and a favourable probability of upside; it penalises rich valuations, weak capital efficiency, a low F-Score and high volatility. The price target is a 10,000-path Monte-Carlo simulation on real historical volatility, a distribution, not a single guess. The bull and bear cases are generated from the same data, so you always see both sides.
This is information, not investment advice. Do your own due diligence and consult a SEBI-registered adviser before investing.
RELIANCE analysis, FAQs
Is Reliance Industries Limited (RELIANCE) a good buy?
On the numbers, Reliance Industries Limited (RELIANCE) worth a closer look, a Downstox Snapshot Score of 60/100, weighing fairly valued at 24.2× earnings, ROE of 8.9%, a 69% model probability of trading higher in a year. This is a data snapshot for research, not investment advice.
Is RELIANCE overvalued or undervalued?
RELIANCE trades at 24.2× earnings versus a peer median of 10.8×, so it screens richer than its Energy peers.
What is the RELIANCE share price target for 2031?
RELIANCE's probability-weighted 2031 median target is ₹2,268, with an 80% range of ₹1,253-₹4,107 (10,000-path Monte-Carlo).
What is the probability RELIANCE doubles in 5 years?
The modelled probability of RELIANCE reaching ₹2,670 (2×) within 5 years is 36%.
What is the bull case for RELIANCE?
RELIANCE's P/E of 24.2x is lower than 55% of the 2,373 NSE companies in our screener, as of 9 Aug 2026. A 10,000-path probability model puts a 69% chance the price is higher in a year, with a median target of ₹1,484 (+11%). Relatively low volatility (21%/yr), a steadier ride than the typical mid/small-cap.
What are the risks in RELIANCE?
RELIANCE's return on equity of 8.9% ranks in the 43rd percentile of the 2,373 NSE companies in our screener, as of 9 Aug 2026.