Reliance Industries shares jump nearly 12% after Q2 earnings beat expectations

Reliance Industries' shares climbed close to 12% on Monday, marking the biggest single-day rise since April 2020 after the company posted its July-September quarter results for FY27. The conglomerate reported a 41% year-on-year increase in consolidated net profit to Rs 25,548 crore and a 29% rise in revenue to Rs 3.32 lakh crore.

The rally added roughly Rs 2 lakh crore to Reliance's market capitalisation, taking the share price to Rs 1,300 on the NSE, the highest level since early September. International brokerages such as Jefferies and Nomura kept their "Buy" ratings. Jefferies set a target price of Rs 1,710, indicating a potential upside of about 47%, and raised its FY27 and FY28 EBITDA estimates by 6% and 2% respectively. Nomura lowered its target to Rs 1,560, still suggesting a 34% upside, noting that EBITDA exceeded its estimate by 9% driven mainly by the oil-to-chemicals segment.

Reliance's shares had been near a 52-week low of Rs 1,152 earlier in the month and were down roughly 21% in 2026, underperforming the broader Nifty 50 index. The recent gain contributed to a weekly rise of more than 4% and a monthly increase of about 7% for the stock.