Reliance Industries jumps 3% on festive energy demand optimism

Reliance Industries’ stock climbed over 3% on October 20 as investors bet on higher festive energy demand and refining margins. The rally contributed significantly to benchmark index gains. Analysts attribute the move to expectations of strong petrochemical volumes and robust retail performance in Q3. The company’s energy segment benefited from resilient fuel consumption trends. Broking firms maintain a positive near-term outlook with targets between ₹3,100–3,150.