After a period of relatively decline towards the end of 2024 and in the early weeks of 2025, things seem to be looking positive for Mukesh Ambani-led Reliance Limited. The company shares zoomed on Thursday after rating agencies, including Jefferies, went bullish on the company stocks.

Jefferies Goes Bullish On Reliance

Jefferies has issued a buy call for the Mumbai-based company, which is also on of the largest conglomerates in India.

This positive outlook comes to pass after some major developments from the company. The buzz surrounding the Jio Telecom IPO could have possibly encouraged markets.

Positive Signs For Company

In addition, as per Jefferies, the reason for Reliance decline was a result of a slowdown in the company's retail sector. However, this slowdown might just be behind the company, further fostering greater surge.

In addition, optimism also emanates from high APRU from its telecom business. Jio continues to be the biggest telecom company, with the largest market share, just under a decade, since its inception in 2016.

However, whether the rapid decline in oil prices, and the subsequent impact on business, is yet to be gauged. The stock has reportedly corrected 22 per cent in the past year.

Reliance Shares In Green

As for the progress made by company shares on Thursday, the shares started the day at Rs 1,197.00 per piece, higher than the previous day's closing.

However, after hitting the high of Rs 1,200.50 per piece, the company shares and the progress have wavered a little. At the time of writing, the gains reduced in size.

As the day's trade heads to the middle of the day, the rise in value of the company shares stands at 1.25 per cent or Rs 14.70. This has taken the overall value of the company shares to Rs 1,190.30 per piece.