Reliance Industries shares surged 1.5% to a new 52-week high of Rs 1,559.6, fueled by JPMorgan's 'overweight' rating and a bullish 2026 earnings outlook. JPMorgan set a Rs 1,727 target, citing attractive valuations and catalysts like a Jio IPO and new energy growth. UBS and Motilal Oswal also issued 'buy' ratings, anticipating strong performance from refining and emerging energy businesses.