Reliance Industries Q2 Review: Record O2C Earnings, Retail Weakness And A Brokerage Divide
Reliance Industries moved higher in a quarterly results development for Q2 FY27.
· NDTV Profit
Reliance's consolidated revenue increased 7% quarter-on-quarter (QoQ) to Rs 3.31 lakh crore in Q2 FY27. EBITDA rose 19% to Rs 56,616 crore from Rs 47,517 crore, marking its biggest quarterly increase in 17 quarters. EBITDA margin improved to 17.1% from 15.4%.
Key facts
- Period
- Q2 FY27
The analysis
Reliance Industries reported Rs 3.31 lakh crore, Rs 56,616 crore and Rs 47,517 crore for Q2 FY27, with movement of 7%, 19% and 17.1% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +6.3% on the day at ₹1,238.00, and has returned -9.9% over three months. It sits 22% below its 52-week high. The oil & energy sector has moved -5.7% over the same period, so Reliance Industries is running 4.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -9.9% against Oil & Energy -5.7% (4.2 points behind).
- Trading well above normal today: Reliance Industries at 2.8 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,238.00 | +6.3% | -1.9% | -9.9% | -22.3% | 2.8× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries
Prices as of 2 Nov 2026, 09:57 IST. Sector moves are the average of the stocks we track in each sector.
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