New Delhi, June 26 -- Reliance Industries (RIL) could be on the cusp of a new growth phase, according to global brokerage CLSA, which reaffirmed its 'Outperform' rating on the stock with a target price of Rs.1,650-indicating a potential upside of around 14 percent from current levels. The brokerage believes the company's June quarter (Q1FY26) performance could mark a turning point after a muted FY25, driven by strength in its retail and telecom businesses.

CLSA noted that Reliance Industries has entered a promising phase with its Q1FY26 results expected to show marked improvements across major business verticals. "After a muted FY25, we anticipate a notable improvement across all Reliance businesses from Q1 onwards, which could trigger e...