Reliance Industries Share Price: Stock Holds Near ₹1,300 After Its Biggest One-Day Surge in Six Years
After an 11.6% jump on Monday, RIL shares traded in a narrow band in early Tuesday deals as investors weighed the Q2 profit beat against a still-wide gap to the 52-week high.
Reliance Industries shares spent the morning catching their breath. A day after the stock rocketed 11.6%, its strongest session in more than six years, the counter hovered around the ₹1,300 mark, with buyers and profit-takers roughly evenly matched.
Price Snapshot
- Monday, 2 November close: ₹1,300 on the NSE, up ₹135.10 or 11.6% from the previous close of about ₹1,165
- Tuesday early trade (around 9:55 am): about ₹1,295.50, within a day range of ₹1,282 to ₹1,307
- Market capitalisation: roughly ₹17.6 lakh crore
- 52-week range: high of ₹1,611.80 and low of ₹1,152.20
- Distance from the high: about 19.6% below the 52-week peak, and about 12.4% above the low
- Valuation: a trailing price-to-earnings ratio of around 17.9, with promoters holding about 49.6%
Intraday prices change constantly. Check NSE or BSE for the live quote.
Why the Stock Jumped
The rally followed Reliance’s September-quarter results, announced on Friday, 30 October. Consolidated net profit attributable to shareholders rose about 41% year on year to ₹25,548 crore, well above what analysts had pencilled in, and operating profit (EBITDA) climbed 24% to ₹62,409 crore.
The oil-to-chemicals business did the heavy lifting, with EBITDA up 68% as energy prices stayed high. Jio Platforms added a profit of ₹8,387 crore, up about 14%. Retail was the soft spot: its net profit slid roughly 24% even as revenue grew 5.8%.
Because the results came out after the Friday session, Monday was the first chance for the market to react, and it did so in a big way. The stock closed at its high of the day and topped the Nifty 50 gainers’ list.
Tuesday’s Mood: Consolidation, Not Reversal
The early move on Tuesday was small. The stock slipped marginally from Monday’s close but stayed inside a range of roughly ₹25, which is what analysts usually expect after a sharp one-day surge. Traders often use such pauses to book profits, while longer-term investors wait to see if the new level holds.
One independent research house upgraded its rating on the stock from Sell to Hold on 2 November, a modest improvement that reflects better earnings momentum rather than a call for a fresh breakout. The same note cautioned that price gains had not yet been fully backed by trading volumes, a sign some investors are still waiting on the sidelines.
The Bigger Picture
Even after Monday’s jump, Reliance remains well below its 52-week high of ₹1,611.80. In other words, the rally has repaired part of the damage rather than set new records. For shareholders, the question is whether stronger energy earnings can be sustained and whether consumer-facing businesses such as retail can recover their margins.
What to Watch Next
Four factors are likely to drive the share price in the coming sessions:
- Crude and refining margins, which feed directly into the O2C profit that powered the quarter
- Brokerage reactions, including target price changes after the results
- Retail margins, after the fall in profit despite higher sales
- Jio Platforms, whose recent stock market debut keeps it in sharp focus for investors
For now, the stock is consolidating near ₹1,300, and the next few sessions will show whether Monday’s surge was a one-day pop or the start of a longer recovery.
Disclaimer: This article is for information only and is not investment advice. Share prices are indicative and were taken from market data pages and news reports on 2–3 November 2026. Sources: ICICI Direct, INDmoney, Tickertape, Upstox, MarketsMojo, PTI.
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