Reliance Industries’ FMCG brand expands to North India, takes on Marico, Adani Wilmar

Reliance Consumer Products comes under Reliance Retail, which analysts have pegged as the next big trigger for the stock

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After launching in Gujarat last year, Reliance Industries has taken a big leap and announced the expansion of its Independence brand to North India. The brand, which offers edible oils, grains, pulses, packaged foods and other essential daily commodities, competes with Adani Wilmar’s Fortune, Marico’s Saffola and Patanjali Foods’ Nutrela.

At 9:45 am, Reliance Industries was quoting at Rs 2,570 on the NSE, higher by 0.24 percent from previous close. Adani Wilmar share price was trading flat at Rs 418 and Marico was down by 1.1 percent at Rs 521.40.

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“A large cross-section of the Indian population is looking for a dependable consumer goods brand that offers a wide range of high-quality products at affordable prices and ‘Independence’ aims to fill that gap,” the company said.

With the expansion, Independence products will be available to consumers in Punjab, Haryana, Delhi NCR, Uttar Pradesh, Uttarakhand and Bihar.

RIL has been aggressively expanding its FMCG presence, ahead of the much-awaited Reliance Retail IPO. Last year, it also took on the likes of HUL and ITC with announcement of personal care and homecare products.

Analysts at Nuvama Institutional Equities had noted that the price points for RIL’s soaps, dishwashing bars and detergents were 30-35 percent lower than the market leaders across these categories. It is highly likely that the conglomerate could implement the same strategy in Foods segment as well.

“The company has a reputation of disrupting sectors that it forays into, mostly by steep discounting in the initial stages,” Nuvama analysts added.

Reliance Retail – the next big trigger

Reliance Consumer Products comes under Reliance Retail, which analysts have pegged as the next big trigger for the stock. For instance, CLSA’s Vikash Kumar Jain has pegged RIL’s share price at Rs 3,017 by March 2025 of which Reliance Retail will be worth Rs 1,286.

“We will see visible strides in Reliance’s FMCG foray in 2023,” he said. For instance, the company has already announced nationwide relaunch of Campa Cola.

For Nifty50 to scale new high, Reliance Industries’ upmove is key as it alone commands over 10 percent weight in the index. With retail, Jio and new energy businesses pegged as the next big triggers for the stock, the 12-month target price on the stock is Rs 2,810 which indicates a 10 percent upside from current levels.

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