Reliance Industries shares surge following strong Q2 results
The Mukesh Ambani-led conglomerate reported a 33.8 per cent year-on-year growth in consolidated profit for the July-September quarter.
Reliance Industries shares rose as much as 5.91 per cent during Monday's trading session after the company reported strong results for the July-September quarter of FY27, according to Mint.
The stock opened at ₹1,228.10 on the NSE, compared to the previous close of ₹1,164.90 on Friday, and reached an intraday high of ₹1,237.30 on 2 November.
The company reported a 33.8 per cent year-on-year growth in consolidated profit after tax at ₹29,550 crore for the quarter, up from ₹22,092 crore in the same period last year. Net profit attributable to shareholders increased 40 per cent year-on-year to ₹25,548 crore.
Consolidated revenue rose 27.8 per cent year-on-year to ₹3,62,268 crore, while EBITDA increased 23.9 per cent to a record ₹62,409 crore. The quarterly profit surpassed the ₹23,196 crore recorded in the previous quarter.
The oil-to-chemicals segment was the largest contributor to earnings growth. The segment's EBITDA surged 67.9 per cent year-on-year to ₹25,203 crore, while revenue climbed 44.2 per cent to ₹2,31,601 crore.
Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, said the shares show upside potential. He noted that a breakout above ₹1,260 could lead to further upside towards ₹1,300, ₹1,325 and ₹1,360.