Reliance shares jump 12% after record Q2 profit, market value soars

Reliance Industries Ltd shares surged about 12% to close at ₹1,300 on Monday, marking the strongest single‑day rise since April 2020 after the conglomerate reported a record second‑quarter profit. The jump added roughly ₹1.84 lakh crore to the company's market capitalisation, pushing it to about ₹17.6 lakh crore and keeping Reliance the most valuable listed firm in India. At its peak the stock touched ₹1,611, briefly lifting market value to ₹21.8 lakh crore, a level first reached in June 2024. The rally also lifted the Nifty 50 index by around 1.7% despite heightened tensions in West Asia. Reliance’s consolidated profit after tax for the July‑September quarter rose 33.8% to ₹29,550 crore, while revenue grew 27.8% to ₹3,62,268 crore and EBITDA reached a record ₹62,409 crore. The surge was led by a recovery in the oil‑to‑chemicals (O2C) segment, where EBITDA jumped 67.9% to ₹25,203 crore and revenue climbed 44.2% to ₹2,31,601 crore, helped by higher global fuel margins and tighter petrochemical spreads. Digital services added to earnings, but the retail arm lagged, with Reliance Retail Ventures reporting a 24.3% fall in profit to ₹2,611 crore despite a 6.4% rise in revenue. Investors also cheered the recent debut of Jio Platforms, which listed at ₹1,440 a share, a 21.3% premium over its issue price. The stock remains down about 17.2% for the year, ending a stretch where it closed in the red in eight of the past ten months.

Context

Large Indian conglomerates often move markets when quarterly results beat expectations, and a rise in market cap reinforces Reliance’s dominance in the Nifty 50. A strong O2C recovery signals better global oil price conditions, which can boost earnings for other energy‑linked firms as well.