Reliance Industries shares rally 6% after Q2 results. Here’s why Jefferies, others analysts see up to 47% upside
Jefferies rate stocks including Reliance Industries.
· ET Stocks, Economic Times Markets
Reliance Industries shares rose up to 6% after the company reported a 41% YoY increase in Q2 net profit to Rs 25,548 crore, while revenue climbed 29% to Rs 3.32 lakh crore. The O2C business led earnings growth, with EBITDA surging 68% YoY to a record Rs 25,203 crore, supported by strong refining and petrochemical performance.
The analysis
Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- Brokerage calls from Jefferies, with ratings on the stocks named. The stocks: Reliance Industries.
- The “up to 47% upside” is the brokerages’ own estimate: the gap between the share price when the note was written and their target price, usually set a year out. It is a forecast by the brokerage, not a move that has happened.
- 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 | ₹1,233.30 | +5.9% | -1.9% | -9.9% | -22.5% | 2.8× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries
Prices as of 2 Nov 2026, 10:01 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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