Reliance shares jump 12% in biggest single-day gain since April 2020
Reliance Industries shares closed 11.6 per cent higher at Rs 1,300 on 2 November, adding about Rs 1.83 lakh crore in market value after record quarterly earnings.
Shares of Reliance Industries jumped 11.6 per cent to close at Rs 1,300 on Monday 2 November, their biggest single-day gain since April 2020, after record second-quarter earnings. The rally added about Rs 1.83 lakh crore to the company's market value and lifted both benchmark indices.
A record one-day rally
Shares of Reliance Industries (RIL) rallied on Monday 2 November, registering their biggest single-day gain since April 2020, according to Bloomberg data cited in market coverage. The stock jumped 11.60 per cent to close at Rs 1,300 on the NSE, its sharpest one-day rise since 7 April 2020, when it rose 11.94 per cent. The surge added around Rs 1.83 lakh crore to the market capitalisation of India's most valuable company, taking it closer to Rs 17.6 lakh crore.
What drove the quarter
The rally followed record quarterly earnings. RIL reported a 40.64 per cent year-on-year rise in consolidated net profit to Rs 25,548 crore in the second quarter of FY27, compared with Rs 18,165 crore a year earlier, while revenue from operations rose 28.57 per cent to Rs 3,32,861 crore from Rs 2,58,898 crore. Alongside the results, the board approved a resolution to raise up to Rs 15,000 crore through non-convertible debentures on a private placement basis. Newly listed Jio Platforms reported quarterly revenue of Rs 47,485 crore, up 11.3 per cent, and EBITDA of Rs 21,879 crore, up 16.6 per cent, with average revenue per user rising to Rs 218.8.
The wider market effect
The rally lifted the broader market. The Sensex gained 1,233.25 points, or 1.66 per cent, to close at 75,692.78, while the Nifty 50 rose 387.7 points, or 1.68 per cent, to 23,440.8. Reliance accounted for nearly half the increase in the combined market capitalisation of Nifty 50 constituents, according to market coverage. Jio Platforms, by contrast, fell 0.74 per cent to Rs 1,420 on the day, even as Reliance's 64.5 per cent stake in it was valued at Rs 8.37 trillion. Analysts quoted in coverage pointed to favourable refining conditions alongside the earnings, though no single cause explains a market move of this size on its own.
What to watch
Brokerages maintained positive ratings on the stock after the results, according to market reports, and traders will now watch whether the stock holds Monday's gain. The rally marked a strong start to November, with benchmarks rising for a third straight session, but market moves can reverse quickly, and quarterly earnings are only one part of a company's longer story. This article is general information only and not investment advice.
Editorial disclosure
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Frequently asked questions
How much did Reliance shares rise?
Reliance Industries shares jumped 11.60 per cent to close at Rs 1,300 on the NSE on 2 November, the biggest single-day gain since 7 April 2020, adding about Rs 1.83 lakh crore in market value.
What did the Q2 FY27 earnings show?
Consolidated net profit rose 40.64 per cent year-on-year to Rs 25,548 crore, and revenue from operations rose 28.57 per cent to Rs 3,32,861 crore. Jio Platforms reported revenue of Rs 47,485 crore and average revenue per user of Rs 218.8.
How did the wider market react?
The Sensex gained 1,233.25 points to 75,692.78 and the Nifty 50 rose 387.7 points to 23,440.8. Reliance accounted for nearly half the increase in the combined market capitalisation of Nifty 50 constituents.