JPMorgan has maintained its Overweight rating on Reliance Industries with a March 2027 price target of Rs 1,675, citing comfortable relative valuation while flagging the oil-to-chemicals segment as the primary near-term risk. The brokerage's assessment acknowledges that RIL's current trading level offers relative value, but the O2C business, which spans refining and petrochemicals, introduces uncertainty that constrains the near-term thesis. The O2C segment's uncertain outlook reflects broader pressure on global refining margins and petrochemical spreads, which have been squeezed by overcapacity and softer demand in key export markets. JPMorgan's medium-term case, however, rests on a recovery in both refining margins and petrochemical spreads, which would directly expand O2C earnings contribution and support consolidated EBITDA. Beyond hydrocarbons, JPMorgan flags retail as a secondary valuation lever. Reliance Retail's scale and potential re-rating or monetization pathway offer upside optionality not fully priced into the current multiple. Investors should watch O2C margin data and any formal retail monetization signals as near-term indicators of whether the Rs 1,675 target trajectory holds.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
