Reliance Industries shares reclaim second spot in Nifty 50 weightage; Stocks set for best year in five

Reliance Industries Ltd. shares are up 21% so far in 2025. This is turning out to be the best calendar year performance that the stock is witnessing since 2020.

The surge seen in the stock after its second quarter results, has helped it reclaim the second spot on the Nifty 50 stocks in terms of weightage, overtaking ICICI Bank.

HDFC Bank continues to have the top position with a 13.1% weightage, while Reliance Industries now has 8.4%, overtaking the 8.2% of ICICI Bank, according to data compiled by CNBC-TV18. At the start of the year, Reliance Industries had a weightage of 7.6%.

From the lows that made in September, shares of Reliance Industries have gained 9%, while ICICI Bank has corrected by a similar margin from the record high it made in July. The private lender has been declining after it reported its results for the quarter, post which, brokerages flagged off concerns over the slowing loan growth.

Together, Reliance Industries and HDFC Bank have contributed over a third of the Nifty’s total gain in 2025, adding about 830 points to the benchmark’s 2,435-point advance this year.

Reliance Industries beat street expectations for the September quarter, with growth being led by the core O2C, retail and the digital business. 36 out of the 38 analysts that have coverage on the stock have a "buy" recommendation, with price targets going up to as high as ₹1,900.

Jefferies expects improving visibility in retail and refining to drive further re-rating of the stock, while Morgan Stanley believes that the setup for the December quarter looks very strong, particularly in retail and fuel refining. It added that new energy and AI initiatives could unlock the next $50 billion in value creation for the conglomerate.

Shares of Reliance Industries are witnessing some profit booking today, currently trading 0.6% lower at ₹1,455.8.