Reliance Industries (RELI.NS) rose 1.4% after JPMorgan upgraded its outlook, predicting improved earnings over the next two years. Despite recent pressures from weak commodity prices, JPM raised the price target and maintains an 'Overweight' rating, citing potential in consumer business growth.

• JPMorgan raised RELI's PT to 1,568 rupees.
• RELI is up ~19% YTD, outpacing the Nifty 50.
• Refining & petrochemical margins expected to stabilize.