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Shares of Reliance Industries Limited (RIL) rose 12% on Monday, November 2. Also it closed at day-high of ₹1,300. Due to the company’s record second quarter results and positive response from brokerage firms, the stock had its biggest one-day rise since April 2020 i.e. in 6 years.
Reliance’s share became the most traded share on BSE-NSE today. Apart from this, it was the top gainer of Nifty 50 and the biggest positive contributor to the benchmark index.
Market cap increased by ₹2 lakh crore in one day
With this speed, the market cap of this group led by Mukesh Ambani crossed ₹ 17.59 lakh crore, which has increased by about ₹ 2 lakh crore in a single day.
Sensex rises 1233 points due to rise in Reliance shares
This rise in Reliance shares gave an edge to the entire stock market today. At the end of the day, Sensex closed 1,233 points (1.7%) higher at 75,693 and Nifty closed 388 points higher at 23,441.
Reliance shares have fallen 17% so far this year
Reliance Industries shares have risen 8% in the last 5 days and 10% in a month. It has fallen 11% in 6 months. This year i.e. from January 1 till now it has fallen by 17%. The company’s shares declined by 12% in one year.
Goldman Sachs gave target of ₹1,840 and Nomura gave target of ₹1,560
After the company’s results, big global brokerage firms have maintained their ‘Buy’ rating on Reliance’s shares.
- Goldman Sachs: A target price of ₹1,840 has been given on the stock, which shows 58% upside from Friday’s closing ₹1,164.90.
- Nomura: A target price of ₹ 1,560 has been given on the share. Nomura reported that consolidated EBITDA grew 19% quarterly, which was 9% better than estimates.
- Deven Choksi Finserv: Choksi has given a target of ₹ 1,800 for the stock, which is 55% upside from Friday’s closing and more than 38% upside from Monday’s closing. He indicated that he may increase this target further.
Valuation and Technical Factors
According to market expert Deven Choksi, Reliance Industries has about 63% stake in the listed company Jio Platforms. Jio Platforms is trading about 40% above its issue price.
At the current level, the value of Jio Platforms’ stake per share of Reliance is around ₹ 700 to ₹ 800. Choksi believes that the market is not fully reflecting the value of Reliance’s other businesses, due to which the stock is still undervalued.
Apart from this, technical factors were also the reason for the rise in the stock. The stock was going through a correction and sideways trading till ₹1,150 level, after which there was a surge in the market due to covering of short positions.
Reliance is India’s largest private sector company
Reliance is India’s largest private sector company. It currently operates in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewable energy, digital services and retail sectors.
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Reliance’s profit increased by 34% to ₹ 29,550 crore: Revenue increased by 28% in the second quarter; Reason- Profit of oil to chemical business increased by 44%
Mukesh Ambani-led Reliance Industries has set a new record in earnings in the second quarter of this year. The company’s revenue from operations has increased by 28% compared to last year to ₹ 3.62 lakh crore. In the same quarter a year ago i.e. July-September 2026, it was Rs 2.83 lakh crore.
Reliance Industries’ profit in the second quarter of 2026-27 increased by 34% on an annual basis to Rs 29,550 crore. Profit in the same quarter a year ago was ₹22,092 crore. Read the full news…
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