New Delhi, May 14 -- Shares of Reliance Industries (RIL) could rise as much as 12 percent from current levels, Citi Research said in a recent note, reiterating its 'buy' call on the Nifty 50 heavyweight. The brokerage assigned a target price of Rs.1,585, citing six potential catalysts across the conglomerate's core business segments that could drive the stock higher in the near term.

At current levels, the target implies an upside of 12 percent for India's most valuable company. According to Citi, a combination of operational recovery, structural shifts, and anticipated announcements could support investor sentiment and stock performance over the coming months.

Reliance Industries' share price remained largely unchanged over the past ye...