Reliance Industries Limited (RIL), led by Mukesh Ambani, reported robust earnings for Q2FY26, sending positive signals for its share price. The conglomerate posted a 16% year-on-year rise in consolidated profit after tax (PAT) at ₹22,146 crore, compared to ₹19,101 crore in Q2FY25. Net profit attributable to shareholders rose 9.7% YoY to ₹18,165 crore from ₹16,563 crore. Profit including associates and joint ventures grew 14.3% YoY to ₹22,092 crore, highlighting strong overall performance.
Strong Performance Across Business Segments
Experts point out that Reliance’s diversified business portfolio—including Jio Platforms Limited (JPL), Reliance Retail Ventures Limited (RRVL), and Oil-to-Chemicals (O2C)—has driven this growth.
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JPL revenue increased 14.9% YoY, supported by subscriber growth, higher ARPU, and ramped-up digital services.
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RRVL revenue grew 18% YoY, led by significant gains in grocery (23%) and fashion (22%) segments.
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EBITDA rose 14.6% YoY to ₹50,367 crore, despite a 2.6% dip in Oil & Gas revenue due to production decline in KGD6 and lower condensate prices.
Seema Srivastava, Senior Research Analyst at SMC Global Securities, highlighted Reliance’s strong balance sheet, continued investments in O2C capacity, Jio network expansion, retail footprint, and new energy projects, and its ability to capitalize on technology and innovation for sustained growth.
Reliance Share Price Outlook
The Reliance share price has been on an upward trend, rising from ₹1,374 to ₹1,419 on the NSE ahead of the Q2 results announcement. Analysts predict further gains:
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Ganesh Dongre, Senior Manager at Anand Rathi, said the stock has shown a trendline breakout above ₹1,380–₹1,400, reflecting strong bullish sentiment.
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Investors are advised to consider a ‘buy on dips’ strategy near ₹1,380, with a stop loss at ₹1,340 and an upside target of ₹1,480–₹1,500 in the near term.
Focus on New-Energy Ventures
RIL is also accelerating its new-energy initiatives, expected to become key growth engines. The company will start operations at its first solar cell production line in Jamnagar this month, with the Kutch solar plants slated to generate power in H1FY27. The Jamnagar giga-complex, projected to be the world’s largest single-location clean energy facility, will produce solar modules, generate green hydrogen, and power data centers.
With strong earnings, strategic investments, and diversified business growth, Reliance Industries is well-positioned to maintain momentum and deliver long-term value to investors.