Reliance Share Price Jumps 7.7% to Rs 1,254.80 After Q2 FY27 Results: O2C EBITDA Up 68%, New Energy Earnings to Start From FY28
- November 2, 2026
- Posted by: Chaitanya Auti
- Category: Results
Reliance Rs 1,254.80 (11:00 AM, 2 Nov), up 7.72%. Q2 PAT Rs 29,550 crore, up 33.8%. O2C EBITDA Rs 25,200 crore, up 68%. Retail PAT down 24%. Nuvama target Rs 1,703.
Quick Answer
Reliance share price is up 7.72% at Rs 1,254.80 at 11:00 AM IST on 2 November 2026, against Friday’s close of Rs 1,164.90. Q2 FY27 profit after tax rose 33.8% to Rs 29,550 crore, driven by oil-to-chemicals EBITDA of Rs 25,200 crore, up 68%. Management says new energy projects will add to earnings from FY28, while retail profit fell 24%. Nuvama has a Buy with a target of Rs 1,703.
Reliance share price has jumped 7.72% to Rs 1,254.80 on 2 November 2026 after the company reported record-level oil-to-chemicals earnings in its Q2 FY27 results. Investors watching Reliance Q2 results and the stock ask is whether the move is justified by earnings, and what the new energy and Jio stories add from FY28.
Prices are as of 11:00 AM IST. The Reliance share price and financials are from the company’s Q2 FY27 results and brokerage notes reported by the media.
Click Here – Get Free Investment Predictions
Reliance Share Price Today: Key Data
| Metric | Value |
|---|---|
| Reliance share price (NSE, 11:00 AM IST) | Rs 1,254.80, up Rs 89.90 (+7.72%) |
| Previous close | Rs 1,164.90 |
| Day's range | Rs 1,214.20 to Rs 1,259.00 |
| Volume (NSE) | About 4.93 crore shares |
| Q2 FY27 consolidated PAT | Rs 29,550 crore, up 33.8% from Rs 22,092 crore |
| O2C EBITDA | Rs 25,200 crore, up 48% QoQ and 68% YoY |
| Retail gross revenue | Rs 91,716 crore, up 6.4% |
| Capex in the quarter | Rs 38,153 crore |
Source: NSE live data, Reliance Industries Q2 FY27 results and investor slides, Equirus and Nuvama notes as reported.
Why Is Reliance Share Price Rising Today?
1. Oil-to-Chemicals Delivered Its Strongest Quarter
The oil-to-chemicals (O2C) segment was the biggest contributor, helped by stronger global fuel cracks and better petrochemical margins. EBITDA rose to Rs 25,200 crore, and management said the first-half run-rate puts O2C on track for annualised EBITDA of more than Rs 80,000 crore.
2. Jio Platforms Is Steady After Its Listing
Jio Platforms reported consolidated net profit of Rs 8,387 crore, up 13.7%, with revenue up 11.3% to Rs 47,485 crore, EBITDA up 16.6% to Rs 21,879 crore and ARPU up 3.5% to Rs 218.80. Jio also crossed 300 million 5G subscribers during the quarter.
3. New Energy Is Close to Contributing
For the Reliance share price outlook, management said new energy projects are poised for faster operationalisation, with earnings contributions expected from FY28. Solar module capacity now exceeds 6 GW and is targeted at 20 GW by early FY28. Nuvama estimates that infrastructure for a round-the-clock power site could cut captive power costs by more than 25% and add about 6% to profit after tax.
Check the Univest Screener for large-cap stocks with strong earnings growth
What Is Weak: Reliance Retail
Reliance Retail was the contrast: gross revenue rose 6.4% to Rs 91,716 crore, but EBITDA fell 8.6% and profit after tax fell 24%, as the quarter had no major festive activity and the company is investing in online scale. The network grew by 303 stores to 19,947 across more than 7,000 towns, and management describes FY27 as a phase of building online scale, with FY28 and FY29 for converting it into value.
Reliance Target Price and Brokerage Views
Nuvama kept a Buy rating but cut its Reliance target price to Rs 1,703 from Rs 1,766, applying a 25% holding-company discount for the Jio listing, and values the stock at about 18 times estimated FY28 earnings per share. The Reliance target price of Rs 1,703 implies about 46% upside from Friday’s close, per the reported note, and about 36% from today’s price. Targets are opinions and change often.
Reliance Share Price Outlook: Risks to Track
Three risks stand out for the Reliance share price. Refining margins are cyclical, so a record O2C quarter may not repeat. Retail profit is falling while capital spending is high at Rs 38,153 crore a quarter. And a 7.72% one-day move already reflects part of the good news, so entries near the high carry more short-term risk. Staggered buying and a defined stop loss are more prudent than chasing.
Download the Univest iOS App or Univest Android App to track Reliance and your watchlist live.
Conclusion
Reliance share price has jumped on a record O2C quarter and a 33.8% rise in profit, with Jio steady and new energy earnings promised from FY28. Retail is the soft spot in the Reliance Q2 results. Brokerage targets such as Nuvama’s Rs 1,703 point to upside, but after a 7.72% single-day rise, patience and risk limits matter more than speed.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Reliance Share Price
What is Reliance share price today?
Ans. Reliance share price was Rs 1,254.80 on the NSE at 11:00 AM IST on 2 November 2026, up Rs 89.90 or 7.72% from the previous close of Rs 1,164.90. The day's range so far is Rs 1,214.20 to Rs 1,259.00 on volume of about 4.93 crore shares.
Why did Reliance share price jump 7.7%?
Ans. The stock jumped after Q2 FY27 results showed consolidated profit after tax of Rs 29,550 crore, up 33.8%, led by oil-to-chemicals EBITDA of Rs 25,200 crore, up 68% year-on-year. Steady Jio numbers and management's guidance that new energy will contribute to earnings from FY28 added to sentiment.
What are Reliance's Q2 FY27 results?
Ans. Consolidated profit after tax including share of associates and joint ventures was Rs 29,550 crore, up 33.8% from Rs 22,092 crore. O2C EBITDA was Rs 25,200 crore, Jio Platforms profit was Rs 8,387 crore and Reliance Retail gross revenue was Rs 91,716 crore, with retail profit down 24%.
What is the Reliance target price?
Ans. Nuvama has a Buy rating with a target of Rs 1,703, cut from Rs 1,766 after applying a 25% holding-company discount for the Jio listing. The brokerage values Reliance at about 18 times estimated FY28 EPS. Other brokerages have different targets, and all of them are opinions that change.
When will Reliance's new energy business start adding to profit?
Ans. Management has said new energy projects will start contributing to earnings from FY28. Solar module capacity exceeds 6 GW and is targeted to reach 20 GW by early FY28. Delivery against these timelines is the key risk, as large projects can slip.
Why did Reliance Retail profit fall?
Ans. Reliance Retail's EBITDA fell 8.6% and profit after tax fell 24% in Q2 FY27, even as gross revenue rose 6.4% to Rs 91,716 crore. The quarter lacked major festive activity and the company is investing in online scale. Management expects scale to convert into value in FY28 and FY29.
Is it a good time to buy Reliance after the jump?
Ans. After a 7.72% single-day rise, short-term risk is higher, because part of the good news is priced in. Long-term investors often stagger purchases and use their own valuation and risk limits. Review the results, retail trends and refining margins first. This is not investment advice, so consult a SEBI-registered advisor.
What is Jio Platforms' share in Reliance's story now?
Ans. Jio Platforms is now separately listed and reported net profit of Rs 8,387 crore, up 13.7%, in its first result. Reliance holds the majority stake, and brokerages such as Nuvama apply a holding-company discount to Reliance's valuation because of the listing. Jio remains a steady earnings contributor.