On Friday, the BSE Sensex rose 0.1% to 83,575, while the NSE Nifty 50 gained 0.1% to reach 25,601, building on the recent uptrend fueled by growing confidence in a corporate earnings rebound.
Mukesh Ambani-led Reliance Industries Limited (RIL) is set to announce its Q2FY26 results today, October 17, 2025. Investors are closely watching the performance of its core businesses — Oil-to-Chemicals (O2C), Jio, and Reliance Retail — along with strategic investments in new energy and AI.
The O2C segment remains RIL’s backbone. In Q2FY26, the operating profits of the O2C segment will be a key thing to watch for, as it is driven by higher refining throughput and stronger diesel margins. Weak petrochemical spreads may offset some gains, while global fuel margins and currency fluctuations remain key factors. Refining and petrochemical margins (GRMs) will be closely watched as indicators of operational health.
Reliance Jio is expected to maintain steady growth. ARPU is likely to improve sequentially and subscriber additions could exceed 5 million mark. Investors will also track the planned Jio IPO, targeted for H1FY26.
Reliance Retail is expected to post growth in its operating business. Growth is driven by store additions and early festive-season sales, although GST cuts on consumer durables in September may have deferred some purchases. Retail margins and performance will provide insights into the consumer-facing business.
Upstream operations, including KG-D6, may see slightly lower output due to field maturity. Investors will also track free cash flow, especially after large capital outlays in new energy, retail, and digital infrastructure. Debt levels have inched higher, and clarity on monetization timelines is awaited.
RIL has incorporated Reliance Intelligence Limited, a wholly-owned subsidiary for AI initiatives. Partnerships with Meta and Google aim to build large-scale AI infrastructure. Updates on execution timelines and early revenue contributions will be key indicators of progress.
Reliance Consumer Products Ltd (RCPL) signed a ₹40,000 crore agreement to set up integrated food manufacturing facilities. This is expected to contribute gradually to revenue growth and further diversify RIL’s business portfolio.
The management commentary on cash flows, project execution, and strategic initiatives in AI, new energy, and Jio will be closely watched. The next few quarters may define Reliance’s transformation into a consumer-tech and clean energy conglomerate.
In Q1 FY26, Reliance Industries reported revenue of ₹2,73,252 crore, up 6% YoY but down from ₹2,57,823 crore in the previous quarter. The company reported a net profit of ₹17,445 crore for Q2FY26, up 76.5% YoY and 3.6% QoQ, driven by strong operational performance and a one-time gain from asset sales.
Revenue growth was led by Retail (+11%) and Digital Services (+19%), while higher finance costs reflected the operationalization of 5G spectrum assets. In response, the Reliance Industries share price fell by over 3% the following day.
In Q2 FY25, Reliance Industries posted a net profit of ₹19,323 crore, down 2.8% YoY, with revenue rising 0.8% YoY to ₹2,58,027 crore.
RIL’s Q2FY26 performance showed strong growth in Digital Services and upstream Oil & Gas, supported by improved ARPU, FTTH momentum, and sustained production volumes. Retail remained steady, focusing on customer proposition and capabilities, while the O2C segment was weak, affected by unfavorable demand-supply dynamics, declining fuel cracks, and lower downstream margins. In response, the TCS share price fell by over 2% the following day.
On Friday, Reliance Industries share price was trading in positive territory. As of 10:33 am IST, the stock price was trading at ₹1,412.60 per share, up by 1.07%. On a year-to-date basis, the share price of Reliance Industries has seen a jump of 16%, while in the last five years it has been up by only 42%.
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