Mumbai, March 6 -- The foreign broker cited a potential recovery in RIL's retail business and an anticipated tariff hike in its telecom unit as key growth drivers.

Adding to the momentum, a domestic brokerage upgraded RIL to "buy" with a revised target of Rs 1,400, citing an improved risk-reward outlook following the recent stock correction. It expects retail business growth in the coming quarters, while updates on telecom, IPO timelines, and tariff hikes could serve as further catalysts.

RIL is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital...