Key insights
- Reliance Industries stock surged 6.2% after reporting a record quarterly profit that exceeded market expectations. The oil-to-chemicals segment was a key driver, benefiting from higher fuel margins, while digital services also showed steady growth. Analysts maintained positive ratings, reinforcing the company's outlook despite a softer retail segment. The strong earnings momentum significantly outperformed the broader market and the oil sector.
Investing.com -- Reliance Industries stock surged 6.2% to trade at ₹1,237.4 on Monday, marking its largest single-session gain in nine months, after the Mukesh Ambani-led conglomerate posted a record quarterly profit that comfortably exceeded market expectations.
The company’s consolidated net profit attributable climbed about 40% year-on-year to ₹25,548 crore in the July–September 2026 period, while total revenue jumped 27.8% to a record ₹3,62,268 crore and EBITDA grew 23.9% to ₹62,409 crore.
The standout driver was the oil-to-chemicals (O2C) segment, which benefited from a meaningful uptick in global fuel margins, while the digital services arm Jio contributed steady growth, with average revenue per user rising to ₹219 from ₹216 in the prior quarter and net subscriber additions of 9 million.
On the analyst front, several brokerages moved quickly to reinforce their positive stance following the earnings release. Nuvama Institutional Equities maintained a "buy" rating, trimming its price target modestly to ₹1,703 to account for a holding-company discount ahead of the anticipated Jio Platforms listing, while Equirus issued a Long rating with a ₹1,537 target, describing the results as better than expected.
The retail segment remained a relative soft spot, but its subdued performance was more than offset by strength in O2C and telecom, and management reiterated that the new energy business is on track to begin contributing to earnings from FY28.
The broader Indian equity market provided a constructive backdrop for today’s move, with the BSE Sensex opening approximately 718 points higher and trading up around 1.0%, while the Nifty 50 also advanced at the open.
Reliance’s gain of 6.2% materially outpaced the oil sector’s rise on the day by roughly 2 percentage points, underscoring that the move was driven by company-specific earnings momentum rather than a broad sector or macro tailwind alone. Global markets were also firm, with U.S. indices posting modest gains.
Taken together, a record quarterly profit, broad-based revenue growth, and renewed brokerage conviction combined with a supportive market environment to produce Reliance Industries’ sharpest single-day rally in nine months.
The stock, which had been trading near its 52-week low of ₹1,152.2 in recent weeks, bounced decisively on the earnings catalyst, though it remains well below its 52-week high of ₹1,611.8, leaving room for further recovery if operational momentum is sustained.
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