Reliance Industries shares rally 6% after Q2 results. Here’s why Jefferies, others analysts see up to 47% upside
Economic Times 2 hrs ago·2 Nov 2026, 3:55 am
Reliance Industries reported strong Q2 results, with net profit jumping 41% year-on-year to Rs 25,548 crore. Revenue grew 29% to Rs 3.32 lakh crore, driven largely by its Oil-to-Chemicals (O2C) business. EBITDA for this segment surged 68% to a record Rs 25,203 crore, supported by robust refining and petrochemical margins.
This performance has led several brokerages, including Jefferies, to raise their price targets on the stock. Analysts believe the company’s strong cash flow generation and operational efficiency are key reasons for their optimism. They see significant upside potential, with some targets implying gains of up to 47% from current levels.
Investors should watch for updates on the company’s capex plans, particularly in its telecom and retail segments. Additionally, monitoring global crude oil prices and refining margins will be crucial to gauge future earnings momentum.
Affected stocks
Bullish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Reliance Industries (RELIANCE).
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development for Reliance Industries and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
