Reliance Industries Q2 profit rises 33.8% to Rs 29,550 crore

Reliance Industries shares rose over 7% on 2 Nov 2026 after Q2 profit grew 33.8%. Key levels to watch are resistance near 1270 and support near 1150. Reliance Industries Limited [

] shares rose over 7% in morning trade on 2 November 2026 after its Q2 results. Profit grew 33.8% to Rs 29,550 crore, against Rs 22,092 crore in the comparison period. Revenue rose 27.8% to Rs 3.62 lakh crore from Rs 2.83 lakh crore. EBITDA grew 23.9% to Rs 62,409 crore from Rs 50,367 crore. EBITDA margin eased to 17.2% from 17.8%. Profit and revenue growth were strong, but the lower margin means growth came from scale, not better profitability. Before the results, the daily chart showed a bearish trend. Price has now moved above 1250. In my view, sentiment has improved after the numbers, but one session does not reverse a downtrend. A move above 1270 would bring a stronger recovery into focus. A fall back below 1250 would keep the earlier weakness in view, and a break of 1150 support would extend it. Watch how the share behaves near 1270 resistance and whether it holds above 1250. The margin decline is the factor that limits the optimism. Stance: bearish trend with improving sentiment, until 1270 is cleared. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.