Reliance Industries jumped 11.6% to ₹1,300 on Monday, its biggest single-day gain in more than six years, after stronger-than-expected quarterly earnings lifted investor sentiment.
The rally added to the company’s market value, which crossed ₹17.5 lakh crore, and contributed to gains in the Sensex and Nifty. Reliance opened at ₹1,228.10 and traded between ₹1,214.20 and ₹1,300, against its previous close of about ₹1,165.
The advance followed the company’s second-quarter results, announced on October 30. Consolidated net profit attributable to owners rose about 40% year-on-year to ₹25,548 crore, while revenue from operations increased around 28% to ₹3.32 lakh crore.
The oil-to-chemicals business led the improvement, with EBITDA rising nearly 68% to about ₹25,203 crore, supported by stronger transportation fuel margins and improved petrochemical conditions. Digital services also recorded growth, while retail performance was comparatively subdued.
The stock’s close brought it near its 200-day moving average, around ₹1,310, with market observers watching the ₹1,310–₹1,330 range as a potential resistance zone. The ₹1,200–₹1,250 band is seen as a near-term support area. Reliance remains below its 52-week high of about ₹1,612.
Investors will look for follow-through buying and monitor crude oil prices, refining and petrochemical margins, and signs of a recovery in retail. The sustainability of the rally will depend in part on whether the company can maintain its recent earnings momentum.
