Reliance Industries share price jumps 11.6% after record Q2 profit

What happened. Reliance Industries published its results for the quarter ended September 30 on Friday, October 30. The shares reacted on the next trading day, Monday, November 2. They closed at Rs 1,300, up 11.6% from Friday's close of Rs 1,164.90. Moneycontrol puts the company's market value at Rs 17.59 lakh crore after the move. A lakh crore is one trillion rupees.

The numbers behind it. Revenue came in at Rs 362,268 crore, up 27.8% from a year earlier (about $37.8 billion, per the company). EBITDA, which is operating profit before interest, tax and depreciation, rose 23.9% to Rs 62,409 crore. Profit after tax and share of associates and joint ventures rose 33.8% to Rs 29,550 crore. A crore is ten million. Net debt to annualised EBITDA stood at 0.47.

What drove it. The oil-to-chemicals business, known as O2C, covers refining and petrochemicals. Its EBITDA rose 67.9% to Rs 25,203 crore. The company says fuel margins, called cracks, were up 3 to 3.7 times in a very tight global refining market. Jio Platforms, the telecom and digital arm, grew revenue 11.3% and EBITDA 16.6%.

The weaker spot. Reliance Retail revenue grew 6.4% to Rs 91,716 crore, but its EBITDA fell 8.6% to Rs 6,228 crore. The company points to heavy investment in digital commerce, input costs it absorbed for customers, and the festive season moving into the third quarter.

How the market took it. The stock was the top gainer and the biggest positive contributor to the Nifty 50, and the most actively traded stock on both the NSE and BSE. The Sensex rose 1,233 points, or 1.7%, to 75,693. The Nifty gained 388 points to 23,441. Bloomberg calls it the stock's biggest one-day rally since April 2020, and says the gain of more than $19 billion in market value is the biggest single-day gain for any Indian company.

What brokerages said. Goldman Sachs and Nomura kept Buy ratings, citing strong refining earnings and steady telecom growth. Goldman said the quarter's EBITDA beat its estimate by 9%, but that it expects refining margins to moderate in the December quarter because of higher freight costs for very large crude carriers. These are their views, not ours.

What to check. A record quarter in a very tight fuel market may not repeat, and a one-day jump says little about the next month. Look at the company's own filings on ril.com or the stock exchanges rather than at headlines alone. This is an overview, not advice.

Fatos confirmados

• Reliance Industries reported Q2 FY27 revenue of Rs 362,268 crore, up 27.8% year on year (about $37.8 billion), and EBITDA of Rs 62,409 crore, up 23.9%.^[1]
• Profit after tax and share of profit of associates and joint ventures was Rs 29,550 crore, up 33.8% year on year; first-half FY27 profit crossed Rs 50,000 crore.^[1]
• Oil-to-chemicals EBITDA rose 67.9% year on year to Rs 25,203 crore; transportation fuel cracks were up 3 to 3.7 times in a very tight global refining environment.^[1]
• Jio Platforms revenue rose 11.3% and EBITDA 16.6% year on year.^[1]
• Reliance Retail revenue grew 6.4% to Rs 91,716 crore while EBITDA fell 8.6% to Rs 6,228 crore, which the company attributes to investment in digital commerce, input-cost inflation absorbed for customers and the festive shift to Q3.^[1]
• The results were released on October 30, 2026.^[1]
• On Monday, November 2, Reliance shares ended at Rs 1,300, up 11.6%, with market capitalisation of Rs 17.59 lakh crore; Friday's close was Rs 1,164.90.^[2]
• The stock was the top Nifty 50 gainer, its biggest positive contributor, and the most actively traded stock on the NSE and BSE.^[2]
• The Sensex rose 1,233 points, or 1.7%, to 75,693, and the Nifty gained 388 points to close at 23,441.^[2]
• Bloomberg says the nearly 12% surge was the stock's biggest one-day rally since April 2020 and came after earnings beat expectations.^[3]
• Bloomberg says the surge added more than $19 billion in market value, the biggest single-day gain for any Indian company.^[3]
• Goldman Sachs and Nomura kept Buy ratings; Goldman said Q2 EBITDA beat its estimate by 9% and expects refining margins to moderate in the December quarter on higher VLCC freight costs.^[2]

Implicações

• ConfirmadoOil-to-chemicals was the standout business in the quarter, while retail EBITDA fell.
• ConfirmadoReliance's move was large enough to lift India's main indices on the day.
• ConfirmadoGoldman Sachs expects refining margins to moderate in the December quarter.
• Nossa leituraRecord profit helped by exceptionally strong fuel margins may not repeat every quarter. This is our view.
• Nossa leituraA single-day jump does not show where the share price goes next. This is our view.

Ainda não se sabe

• Whether refining margins stay near record levels
• How the stock trades after the first day
• How much of the rise came from the results and how much from other market moves that day

Quem é afetado

India, World. Anyone following Reliance, Indian markets or global refining and telecom

Fontes

1. Reliance Industries: Financial and Operational Performance of Reliance Industries Limited (RIL) for the quarter ended 30th September 2026 30 de outubro de 2026 · oficial
2. Moneycontrol: Reliance Industries shares jump nearly 12% after record Q2 results; top Nifty gainer, biggest index contributor 2 de novembro de 2026 · mídia
3. Bloomberg: Reliance's Record $19 Billion Surge Lifts Nifty, Keeps India Bulls in the Game 3 de novembro de 2026 · mídia