Sensex falls, but Reliance shares rise on oil price boost
While the Sensex and Nifty took a hit on Friday, Reliance Industries shares actually edged up to ₹1,400.50.
Global tensions (think U.S.-Iran) have made oil and petrochemicals pricier, which is great news for Reliance's oil-to-chemicals business.
Analysts still see major upside for Reliance
Even in a shaky market, Reliance is holding strong thanks to its smart mix of non-crude feedstocks and rising petrochemical prices.
If you're tracking big Indian companies or thinking about investing, it's worth noting that analysts still see major upside — Motilal Oswal has kept a "Buy" rating with a target price of ₹1,750 (that's 26% higher than today).
Stock's fundamentals looking solid right now
Reliance just posted an increase in quarterly profit, analysts say stronger refining and petrochemical margins could boost its O2C earnings.
The company's diverse approach helps cushion against global volatility and refinery cuts in Asia.
While the stock faces some technical resistance ahead, its fundamentals are looking solid right now.