Reliance Industries share price will remain in focus on Wednesday after Mukesh Ambani-led stock emerged as the stock with the highest exposure in the Margin Trading Facility (MTF) book after recording their biggest single-day rally in six years on Monday, November 2,
According to the latest data released by the National Stock Exchange (NSE) on November 2, Reliance Industries’ MTF exposure jumped 60% to ₹4,711 crore, compared with ₹2,937 crore recorded at the end of October 30.
With this sharp increase, Reliance Industries has overtaken HDFC Bank to claim the top position in the MTF book, which the private lender had held for several months.
The overall MTF book stood at ₹1.45 lakh crore, with the top 10 stocks accounting for an exposure of ₹19,442 crore. Following Monday’s surge, Reliance Industries alone accounted for 24% of the total exposure among these top 10 stocks.
Reliance Industries also continued to be the most traded stock in the Nifty 500 index on both Monday and Tuesday. Its trading turnover exceeded ₹11,000 crore on Monday and remained above ₹5,000 crore on Tuesday. Tuesday’s session also witnessed delivery-based buying worth nearly ₹3,000 crore, following purchases of more than ₹6,000 crore in delivery volumes on Monday.
On November 2, Reliance Industries share price surged nearly 11.6% in a single session, accompanied by an extraordinary volume breakout.
“The stock has decisively broken above a prolonged downward sloping trendline, suggesting that selling pressure may finally be giving way to fresh buying interest. The confluence of a technical breakout, exceptional volumes, improving earnings and value unlocking through Jio makes Reliance an interesting stock to watch,” said Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities.
Reliance Industries Q2 results 2026
RIL posted a consolidated profit after tax (PAT), including its share of associates and joint ventures, of ₹29,550 crore in Q2 FY27, registering a 33.8% year-on-year (YoY) growth from ₹22,092 crore in the same quarter last year. Profit attributable to the company’s owners surged 40% YoY to ₹25,548 crore.
The company’s consolidated revenue climbed 27.8% YoY to ₹3,62,268 crore, while EBITDA rose 23.9% to a record ₹62,409 crore. The quarterly profit also surpassed the ₹23,196 crore recorded in the preceding quarter, marking a new high for India’s largest listed company by market capitalisation.
The Oil-to-Chemicals (O2C) segment was the largest driver of earnings growth, supported by stronger global transportation fuel cracks and an improvement in petrochemical margins. The segment’s EBITDA surged 67.9% YoY to ₹25,203 crore, while revenue increased 44.2% to ₹2,31,601 crore.
Reliance stated that its first-half performance positions the O2C business to achieve an annualised EBITDA of over ₹80,000 crore. The company also expects its new energy projects to start contributing to earnings from FY28 onwards.
RIL stock – Buy, sell or hold?
Gaurav Garg, Head – Research, Lemonn, said that the stock has responded positively to the results, and the latest price action suggests that buying interest is returning after its previous correction.
Garg recommended investors to to HOLD existing positions and consider fresh buying only after a decisive breakout above ₹1,250– ₹1,252.
“Technically, the stock has recovered from the strong demand zone of ₹1,155– ₹1,160 and reclaimed the ₹1,215– ₹1,220 region, which is now an important near-term support area. A sustained move above ₹1,252 could open the possibility of an upside move towards ₹1,278– ₹1,280, where the next major supply zone is placed. On the downside, a break below ₹1,215 may weaken the current recovery, while ₹1,155– ₹1,160 remains the crucial positional support. Therefore, investors should avoid chasing the sharp single-session rally near resistance and wait for breakout confirmation or a healthy retest of support,” he added.
Meanwhile, brokerage firm Motilal Oswal has maintained its ‘buy’ rating on the RIL stock with a revised target price of ₹1,520.
“At CMP, we estimate that RIL is currently trading at a ~54% holdco discount on its 64.5% stake in JPL, which we believe is excessive. The energy segment drives a near-term earnings upgrade; however, we view recovery in RRVL’s growth and profitability as the key driver of RIL’s stock price,” the firm said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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