Is Reliance Industr overvalued or undervalued?

As of 8 April 2025, Reliance Industries has moved from an attractive to a fair valuation grade. The company appears to be fairly valued at this time. Key ratios include a PE ratio of 28.05, an EV to EBITDA of 12.68, and a dividend yield of 0.35%.
In comparison to its peers, Reliance's PE ratio is significantly higher than that of ONGC at 8.31 and IOC at 16.67, both of which are categorized as very attractive. This suggests that Reliance may be overvalued relative to these competitors. Additionally, while Reliance has shown a strong year-to-date return of 19.47%, it has underperformed the Sensex over the past year, which returned 7.58%.