Mumbai, June 16, 2026, 17:40 (IST)
- Reliance Industries shares finished up 1.67% at ₹1,328.80 on NSE. The stock hit an intraday high of ₹1,333.40.
- The stock is up about 6% over the last three sessions. Traders point to optimism ahead of the AGM and a bullish note out from Morgan Stanley.
- Markets await news from Friday’s AGM as investors look for updates on the Jio IPO, retail, and new energy.
Reliance Industries Ltd. shares rose Tuesday for a second session, stretching a rebound from last week’s 52-week low as investors look to the company’s annual general meeting this week. Reliance finished at ₹1,328.80 on the NSE, up 1.67%. The stock opened at ₹1,313.40 and moved between ₹1,306.40 and ₹1,333.40, data from Kotak Neo showed. Still, Reliance trades far from its 52-week high of ₹1,611.80. Traders are treating the move as a rebound, not a major turnaround. Kotak Neo
Nifty 50 jumped 0.57% to 23,989.15, and the Sensex gained 0.71% to hit 76,808.48, Reuters reported. Oil slid after news of a U.S.-Iran peace deal, giving some lift to risk assets. Reliance was up 1.7%, giving both indexes a push. “Lower oil near $82 augurs well for domestic markets,” said Vinit Bolinjkar, research head at Ventura Securities, who noted India’s large crude import costs. Reuters
RIL has climbed 6% in three sessions, helped by coverage like The Economic Times, which said the stock added over ₹1 lakh crore in market cap after hitting ₹1,253.20 on June 11. Morgan Stanley kept its overweight call and stuck to a ₹1,803 target, citing stronger oil-to-chemicals numbers. The O2C unit covers refining and petrochemicals, with spreads defined as the difference between crude prices and what RIL gets selling its products. The firm also noted easier feedstock costs, new-energy plans, and possible upside from AI and data centre revenue, though said these last drivers aren’t locked in yet. The Economic Times
Reliance has set its 49th annual general meeting for Friday, June 19 at 2:00 p.m. IST, the company said in a notice. The event will be held over video call. Investors will be looking for news on the Jio Platforms IPO, details about the retail business, and an update on new energy spending. The company’s current valuation leans toward consumer and tech instead of refining and petrochemicals.
RIL’s stock is down, but profits from its main divisions are still holding up. For FY26, the company posted all-time high gross revenue of ₹11,75,919 crore and EBITDA at ₹2,07,911 crore. Profit after tax, including share from associates and JVs, came in at ₹95,754 crore. EBITDA—that’s earnings before interest, tax, depreciation and amortisation—is the usual operating profit metric. In Q4, Jio Platforms recorded a 17.9% rise in EBITDA year on year. Reliance Retail is running over 20,000 stores now. Jio and retail are widely seen as the engines for growth outside the firm’s main energy business.
Bearish pressure sticks around for RIL. Q4 profit after tax including associates and JVs fell 8.9% from a year ago. EBITDA for the quarter was also lower. Financing costs went up. The stock gained fast ahead of an event tied to market optimism. RIL trades at about 18.5 times earnings, with price-to-book near 1.96—neither cheap nor stretched for its size. Risk’s still there. Shares seem roughly fair at these levels, but could climb if the AGM lays out clear Jio, new energy, or AI plans. If buyers are jumping in just for the AGM rally, that’s another risk.
