Jefferies bets on largecaps as FPIs return; RIL, HDFC among top plays
Reliance Industries is in focus.
· Business Standard Mkts
Jefferies believes that a potential AI-trade reversal, any equity tax relief, resilient domestic macro, reasonable large-cap valuations and light positioning could sustain these flows.
The analysis
Against that, the stock is +1.5% on the day at ₹1,344.50, and has returned -0.8% over three months. It sits 16% below its 52-week high. The oil & energy sector has moved -0.9% over the same period, so Reliance Industries is running 0.1 points ahead of 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 (RIL) (RELIANCE), in Oil & Energy.
- On the day, 2 of 2 are higher: HDFC Bank leads at +1.6% and Reliance Industries (RIL) trails at +1.5%.
- Over three months: Reliance Industries (RIL) -0.8% against Oil & Energy -0.9% (0.1 points ahead); HDFC Bank +9.2% against Banks -0.6% (9.8 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (RIL)RELIANCE · Oil & Energy | ₹1,344.50 | +1.5% | +13.2% | -0.8% | -15.6% | 0.3× | — |
| HDFC BankHDFCBANK · Banks | ₹811.25 | +1.6% | +12.8% | +9.2% | -19.6% | 0.5× | — |
Oil & Energy
1M +4.2% · 3M -0.9%
Reliance Industries (RIL)
Banks
1M +3.8% · 3M -0.6%
HDFC Bank
Prices as of 11 Nov 2026, 10:19 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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