Reliance Industries shares surged 8.2% to ₹1,259 in early trade on Monday, November 2, 2026, after the company reported record results for the September quarter on October 30. The stock was the biggest gainer on the Nifty 50 and its largest positive contributor, lifting the Sensex by about 1,035 points, or 1.4%, to 75,486 around 11 am.
Reliance Industries Share Price and Market Reaction on November 2
Reliance became the most actively traded stock on both NSE and BSE in morning deals. At ₹1,259, its market capitalisation rose to ₹16.77 lakh crore. The Sensex had opened about 719 points higher, and the Nifty 50 gained 290 points, or 1.26%, to 23,343 at around 11 am.
| Market detail (about 11 am, November 2) | Level |
|---|---|
| Reliance Industries share price | ₹1,259 (up 8.2%) |
| Reliance market capitalisation | ₹16.77 lakh crore |
| Sensex | 75,486 (up about 1,035 points, or 1.4%) |
| Nifty 50 | 23,343 (up 290 points, or 1.26%) |
Early gains can change during the session, so these levels are a snapshot of morning trade and not a closing figure.
Reliance Industries Q2 FY27 Results at a Glance
Reliance reported a consolidated net profit of ₹25,548 crore, up 40.64% from ₹18,165 crore a year earlier and up from ₹20,946 crore in the June quarter. Profit after tax stood at ₹29,250 crore, up 32% from ₹22,146 crore. Revenue from operations rose 28.57% to ₹3,32,861 crore, and gross revenue rose 27.8% to ₹3.62 lakh crore. The results beat market estimates and arrived two days after the record-setting listing of Jio Platforms.
| Metric | Q2 FY27 | Q2 FY26 |
|---|---|---|
| Net profit (₹ crore) | 25,548 | 18,165 |
| Profit after tax (₹ crore) | 29,250 | 22,146 |
| Revenue from operations (₹ crore) | 3,32,861 | 2,58,898 |
| O2C EBITDA (₹ crore) | 25,203 | 15,008 |
Oil-to-Chemicals Business Drives the Quarter
The oil-to-chemicals (O2C) business, Reliance’s largest by revenue, reported a 44% jump in revenue to ₹2.32 lakh crore. Its EBITDA, or earnings before interest, tax, depreciation and amortisation, rose 68% to ₹25,203 crore from ₹15,008 crore.
Reliance said fuel cracks, which measure refining profitability, rose three to 3.7 times from a year earlier and reached historic highs. Crude prices rose 40% in the quarter on the back of the West Asia crisis, while transportation fuel prices were up 50% to 78%. Polyester chain margins recovered to a three-year high.
Despite disruptions in the Strait of Hormuz, Reliance maintained high crude runs by sourcing from the strait and from other regions, including Latin America, North America and the Mediterranean. Freight rates surged 15 to 20 times, and exports were redirected to the highest-netback markets, with light distillates going to East and South Africa and middle distillates to Europe, Latin America and West Africa.
Chairman Mukesh Ambani attributed the performance to tight fuel markets, better downstream petrochemical margins and firm domestic demand. Earnings growth was held back by continued costs linked to the special additional excise duty and by under-recoveries in the Jio-bp business.
Jio Platforms and Reliance Retail Q2 Performance
Jio Platforms, in its first results since its listing, reported a 13.7% rise in quarterly profit to ₹8,387 crore on revenue growth of about 11%. Average revenue per user (ARPU) rose to ₹218.8 from ₹211.4 a year earlier and ₹215.6 in the June quarter. The subscriber base stood at 542.4 million, with 36 million net additions over the trailing 12 months.
Reliance Retail did not share in the growth. Its net profit fell 24.3% to ₹2,611 crore, even as revenue rose 5.8% to ₹80,220 crore. Revenue from the oil and gas exploration and production segment slipped 0.6% to ₹6,020 crore.
- O2C: revenue up 44%, EBITDA up 68%.
- Jio Platforms: profit up 13.7%, ARPU at ₹218.8.
- Reliance Retail: profit down 24.3%, revenue up 5.8%.
- Oil and gas (E&P): revenue down 0.6%.
- JioStar: profit down 13.2% to ₹1,147 crore, with revenue up 9.8%.
What Investors Can Track After the Reliance Rally
Reliance carries a large weight in the Nifty 50 and the Sensex, which is why its 8% move lifted both indices. Investors who want to own the stock need to open demat account online with a depository participant, and a trading platform that gives access to NSE and BSE can be used to follow the price through the session.
Reliance’s own disclosures point to items that will shape coming quarters: the level of fuel cracks, the cost of the special additional excise duty on exports, the Jio-bp under-recoveries and the pace of ARPU growth at Jio Platforms. Share prices can reverse after a sharp rise, and a single day’s gain is not a forecast.
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