Reliance Stock Jumps Over 8% After Record Q2 Results
· Free Press Journal
Reliance Industries Ltd (RIL) shares surged more than 8% in early trading on Monday, following record earnings for the second quarter of FY27 and an optimistic outlook from brokerages.
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The Mukesh Ambani-led conglomerate emerged as the biggest gainer on the Nifty 50 and its largest positive contributor. Reliance was also the most actively traded stock on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
RIL shares climbed 8.2% to Rs 1,259 in morning deals, taking the company's market capitalisation to Rs 16.77 lakh crore.
Indian Stock Market Opens With A Bang, Sensex Surges 719 Points And Nifty Crosses 23,200 Despite Mixed Global CuesThe sharp rise in Reliance shares supported broader gains across Indian equity markets.
At around 11 am, the Sensex advanced 1,035 points, or 1.4%, to 75,486, while the Nifty 50 gained 290 points, or 1.26%, to reach 23,343.
Investor interest followed Reliance's strongest quarterly financial performance, supported by its oil-to-chemicals (O2C), digital services and retail businesses.
Consolidated revenue increased 28% year-on-year to a record Rs3.62 lakh crore during the July-September quarter.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 24% to Rs62,409 crore, while net profit jumped 34% to Rs29,550 crore.
Both figures marked quarterly highs for the conglomerate.
Reliance's O2C division reported a 44.2% increase in revenue to Rs2.32 lakh crore, while EBITDA surged 67.9% to Rs25,203 crore.
The segment benefited from stronger transportation fuel cracks, a key indicator of refining profitability, which increased between three and 3.7 times compared with the previous year.
Meanwhile, Jio Platforms recorded an 11.3% rise in revenue to Rs47,485 crore. Its EBITDA climbed 16.6% to Rs 21,879 crore, supported by subscriber additions, higher average revenue per user and continued expansion of digital services.
The earnings performance and favourable brokerage outlooks coincided with the sharp increase in Reliance's share price.