Potential LTCG tax cut could revive FIIs’ India bet, says Jefferies: Which stocks may benefit most?
Reliance Industries moved lower.
· ET Stocks, Economic Times Markets
Jefferies sees a potential long-term capital gains tax (LTCG) cut as a possible trigger for foreign investors to return to Indian equities after record outflows. Banks, Reliance Industries, utilities and real estate stocks could be the biggest beneficiaries. Here’s where foreign investors are positioned and what a tax cut could mean.
The analysis
Against that, the stock is +1.9% on the day at ₹1,179.40, and has returned -8.7% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -4.8% over the same period, so Reliance Industries is running 3.9 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -8.7% against Oil & Energy -4.8% (3.9 points behind).
- At least 25% below the 52-week high: Reliance Industries (26%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,179.40 | +1.9% | -3.3% | -8.7% | -25.9% | 0.4× | — |
Oil & Energy
1M -4.6% · 3M -4.8%
Reliance Industries
Banks
1M -3.0% · 3M -6.5%
Capital Goods & Engineering
1M -9.2% · 3M -3.5%
Real Estate
1M -8.9% · 3M -15.0%
Prices as of 29 Oct 2026, 10:30 IST. Sector moves are the average of the stocks we track in each sector.
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