RELIANCE

The Week That Was, The Week That Will Be | Reliance Industries

Friday closed with a bang. Sensex surged 964 points to 78,151 and Nifty reclaimed 24,334 — its best single-day gain in weeks — powered by IT, private banks and auto stocks. Reliance was among the contributors, and this weekend the spotlight intensifies on the conglomerate for a different reason entirely. Q1 FY27 results are due this weekend, making Monday's open the first real market verdict on the numbers. Here is what the last few quarters tell us: Q1 FY26 net profit was Rs 30,681 crore, Q2 FY26 came in at Rs 18,165 crore, and Q3 FY26 held flat at Rs 18,645 crore. That sequential softness has been a key reason the stock has spent much of 2026 below its 52-week high of Rs 1,611.80, even as the Jio IPO filing triggered a sharp bounce last month. Three segments the market will dissect on Monday: Jio's ARPU trajectory post any fresh tariff revision, retail performance amid a sluggish consumption environment, and O2C margins as crude oil remains elevated near conflict-era levels. Analysts expect consolidated Ebitda growth of 15 per cent year on year, driven by digital and O2C businesses, with Jio's Ebitda likely rising sequentially as well. Monday's open will be the first live price reaction to these numbers. Keep Reliance and the broader Oil and Gas index on your radar.