Reliance Industries shares began Friday's trading session on a flat note but quickly turned positive. Investors are closely watching the stock ahead of the company's third-quarter results for 2026, which are expected to be announced soon.
Early Morning Trading Activity
On the National Stock Exchange, Reliance shares opened at ₹1458.80 each. The price remained unchanged from the previous close initially. However, within minutes of the market opening, the stock gained momentum.
It reached an intraday high of ₹1472.50 per share. This represented a gain of approximately 0.50 percent during the early morning session. The upward movement did not sustain for long though.
Profit-booking activity emerged at higher price levels. This caused the Reliance share price to pull back slightly. It settled around the ₹1465 per share range after the initial spike.
Market Expectations for Q3 Results
Stock market experts say investors are eagerly awaiting Reliance's financial results. The market generally expects flat-to-positive earnings for this Sensex heavyweight company.
Analysts believe Reliance Industries will report strong operating profit for the third quarter of fiscal year 2026. They expect similar strength in the first nine months of the current financial year.
Expert Analysis on Quarterly Performance
Seema Srivastava, Senior Research Analyst at SMC Global Securities, shared her insights. She said the results should be flat to positive overall.
This expectation stems from recovery in the oil-to-chemicals business. Consistent performance from consumer-facing segments also contributes to this outlook. However, upstream challenges continue to persist according to her analysis.
Consolidated revenue will likely grow at mid-single digits year-on-year. Improved refining economics drive this growth. Sustained traction in telecom and retail businesses provides additional support.
Operating profit should grow faster than revenue. Stronger refining margins and higher throughput enable this expansion. Net profit growth may remain modest though, due to mixed trends across different business verticals.
Segment-Wise Performance Expectations
The oil-to-chemicals segment will probably be the primary driver of quarterly performance. Higher global refining margins and improved utilization levels should support refining earnings.
These factors will likely more than offset the impact of relatively soft petrochemical spreads. Consumer businesses are expected to provide stability and visibility to consolidated earnings.
The telecom business should continue its steady growth trajectory. Improving average revenue per user and subscriber additions support this segment. The retail business will likely maintain its gradual recovery with stable margins on a growing revenue base.
In contrast, the upstream oil and gas segment may remain under pressure. Lower crude price realisations could weigh on earnings in this division.
Reliance Share Price Outlook
Mahesh M Ojha, Vice President of Research at Kantilal Chhaganlal Securities, provided technical analysis. He noted that Reliance shares appear strong on monthly charts.
The stock has crucial support at ₹1405 to ₹1408 levels. This support zone is expected to remain sacrosanct according to his assessment. On the upside, the Reliance share price faces a minor hurdle at ₹1594.
If the stock breaks above this resistance level, it could soon touch ₹1650 in the medium term. Ojha advises high-risk investors to consider buying Reliance shares at current market prices.
He suggests a short-term target of ₹1594 and a medium-term target of ₹1650. However, investors must maintain a strict stop loss at ₹1405 per share levels to manage risk effectively.
Investment Recommendations
Market experts say high-risk investors can buy Reliance shares at current market prices. They suggest an upside target of up to ₹1650 based on technical and fundamental analysis.
Investors should conduct their own research before making any decisions. Consulting with certified financial experts is always advisable when considering stock investments.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies. We advise investors to check with certified experts before making any investment decisions.
