Reliance Industries Ltd. Share Price

Saregama India: Revenue Up 37%, Net Profit Up 46%

SAREGAMA Saregama India (NSE: SAREGAMA) is an entertainment company in the RP-Sanjiv Goenka Group. It owns over 1.8 lakh songs covering Hindi, Bengali, Tamil, Telugu, Malayalam, Punjabi and regional music. It monetises this through audio streaming, video platforms, television, OTT services, film producers and brand advertising. It also manages artistes and stages live events. What happened: In Q2FY27, revenue grew 36.6% year on year to Rs 314.3 crore. EBITDA rose 39% to Rs 118 crore and net profit rose 46.4% to Rs 64.17 crore. Artiste management grew 95.3% to Rs 50.55 crore and live events grew 101.3% to Rs 44.72 crore. Video fell 16% to Rs 18.33 crore as the company moves away from film production. Why it matters: Saregama plans Rs 300-350 crore content expenditure in FY27. Management cites a 26% internal rate of return on new music over 10 years. In Q2FY27, it released more than 650 tracks and completed over 20 brand deals with Apple, Google, Cadbury and Reliance. FY26 revenue was 67% from platforms, 19% from brands and 14% direct. What I am watching: Whether the newer segments earn their cost. Live events and artiste management are growing fast but profit conversion is unproven. Video revenue is intentionally shrinking. Platform dependency is high: 67% of FY26 revenue came from streaming and digital platforms, making royalty rates and licensing terms key variables. My stance: Saregama trades at approximately 50 times earnings. ROCE is 17.3% and ROE is 12.7%. The stock returned 54.9% over one year and 61.5% over six months. The music catalogue is a durable asset. The valuation depends on the content investment cycle delivering sustained earnings growth. I do not hold a position in Saregama India at the time of writing. This is not investment advice.

Reliance gains 401,762 retail investors before Jio IPO

Reliance Industries Ltd. ( RELIANCE ) stood out in a quarter when retail ownership fell across nearly half of BSE-listed companies. While many investors trimmed portfolios, Reliance, HDFC Bank and a few select names continued attracting fresh retail participation. The obvious explanation is the Jio Platforms IPO. Investors owning even a single Reliance share became eligible for the shareholder reservation portion of the issue. The sharp jump in shareholder additions ahead of the IPO suggests this route attracted significant interest. What matters is determining how much of this demand represents long-term conviction versus event-driven buying. Reliance shares declined 8.3% during the September quarter, which may also have encouraged value-conscious investors. At the same time, the Jio IPO created a unique incentive that likely brought many first-time or small shareholders into the register. A point the headline may miss is that shareholder growth alone does not necessarily signal stronger investment conviction. The number of shareholders increased substantially, but future disclosures will reveal whether these investors remain invested after the IPO event passes. That will be a better measure of confidence in Reliance's underlying business and earnings outlook. The broader trend is also worth watching. Retail ownership declined in 49.4% of listed companies during the quarter, suggesting investors are becoming more selective rather than exiting equities altogether. Investors should watch whether Reliance retains these new shareholders over the next few quarters and whether Jio's listing translates into stronger value creation for the parent company. View: The shareholder surge is noteworthy, but retaining these investors after the IPO-related catalyst fades will be the real test. Disclosure: This post is for information and education purposes only and should not be construed as investment advice.

Nifty Eyes Gap-Up Near 25,340; RSI Overbought

Pre-open cues are positive. GIFT Nifty is around 25,330, close to 300 points above Monday’s close, so a gap-up opening is likely. The main support is Brent crude, which dipped to near $89 and is now around $92. Nifty has moved above the falling trendline from the February high and the 200-day SMA near 24,000. The rally began from the 22,206 base, which held twice, in April and again in October. Monday was a corrective session. The index dipped to 24,839, took support near 24,890 and settled at 25,044.65, just below the Falling Window resistance at 25,140. The next resistance is 25,340, close to where GIFT Nifty is pointing. If 25,140 and 25,340 are sustained, the 26,000 zone comes into view. If the gap-up fades, 24,890 is the first support, followed by 24,740. RSI at about 78 is in overbought territory, which shows strong momentum but also a stretched rally, so consolidation can come at any time. Brent crude remains the key external factor. Heavyweights such as RELIANCE , HDFC Bank, ICICI Bank, Infosys and TCS are worth tracking. When RSI is overbought, momentum is strong but the move is stretched; support levels and the opening reaction near resistance help judge what comes next. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.

VA Tech Wabag: Revenue Up 20%, 14.5% EBITDA Margin

WABAG VA Tech Wabag (NSE : WABAG) designs and operates water treatment, desalination and wastewater plants. Industry surveys rank it among the top three global private water operators for desalination. O&M contracts generate recurring revenue at higher margins than EPC. India's water and wastewater treatment market is projected to grow from $3 billion in FY25 to $5.2 billion by FY31. What happened: In Q2FY27, revenue grew 19.9% year on year to Rs 1,000.2 crore. EBITDA grew 20% to Rs 144.6 crore at a 14.5% margin. Net profit grew 23.3% to Rs 104.6 crore. Cash from operations in H1FY27 was Rs 225 crore, up from Rs 206.7 crore. Cash balances rose to Rs 1,217.2 crore. Net working capital improved to 101 days from 104 at the end of FY26. Why it matters: The order backlog was Rs 20,207.1 crore on November 8, 2026, over four times annual revenue. O&M is 32% of backlog. Two large wins drove recent intake: a 272 MLD Kuwait desalination project and the Reliance Jamnagar plant. Management expects strong order additions from the Middle East, Africa and India over the next 12 to 18 months. What I am watching: Pure EP contracts reached nearly 80% of H1FY27 order intake; management targets a 20-30% share going forward. Va Tech is entering semiconductors and data centres, supplying ultra-pure water for chip fabs and helping data centres switch from air to water cooling. My stance: Va Tech trades at 29.7 times earnings, above its five-year median of 20.6 times and the industry median of 20.4 times. ROCE is 21.3% and ROE is 15.9%. The order book and cash generation are strong. The re-rating prices in the high-tech expansion before it has contributed meaningfully to earnings. I do not hold a position in VA Tech Wabag at the time of writing. This is not investment advice.

Reliance Industries – A Stock Worth Watching!

RELIANCE Reliance Industries continues to be an interesting stock in the Indian market, backed by its diversified presence across Energy, Retail and Digital Services. 🔍 **Key Highlights – Q2 FY27** - Revenue: ₹3,62,268 crore, up 27.8% YoY. - EBITDA: ₹62,409 crore, up 23.9% YoY. - Profit After Tax: ₹29,550 crore, up 33.8% YoY. - Strong performance from the Oil-to-Chemicals (O2C) and Digital Services businesses. 📈 **Growth Opportunities** 1. Expansion of Jio's digital ecosystem. 2. Growth potential in the retail business. 3. Strong refining and petrochemical performance. 4. Long-term opportunities in new energy. ⚠️ **Risks to Monitor** - Global crude oil price fluctuations. - Retail business profitability. - High capital expenditure and execution risks. - Overall market volatility. 💡 **My Take:** Reliance has a diversified business model and strong operating performance. However, investors should also monitor valuations, debt levels and future earnings growth before making any investment decision. **What do you think about Reliance Industries? Is it worth watching for the long term? Share your views below! 👇**

Indian IT Sector Rising Bills & US Visa Restrictions

Indian IT services companies are witnessing rising subcontracting expenses amid tighter US H-1B visa restrictions and uncertainty surrounding PERM (Permanent Labor Certification) applications, putting additional pressure on operating margins. According to UnearthInsights, average subcontracting costs across eight Indian IT firms increased to 11.3% of revenue as of September 30, compared with 10.5% a year ago. TCS reported the sharpest increase of 1.5 percentage points to 6.8%, while Wipro and Infosys recorded relatively modest increases of 0.2 percentage points. Persistent Systems also witnessed higher subcontracting costs, rising 0.3 percentage points to 15.3%. Infosys disclosed that its subcontracting expenses currently stand at 8.9%, significantly above the pre-pandemic level of approximately 6%. Its CFO, Jayesh Sanghrajka, indicated that a one-percentage-point reduction in subcontracting costs could provide 15–20 basis points of operating margin improvement. However, companies continue to depend on subcontractors to address sudden demand spikes and skill shortages despite increasing efforts to train local talent and reduce reliance on foreign workers. Overall, tighter US immigration policies, talent availability challenges and subdued revenue growth could keep subcontracting expenses elevated, creating near-term margin pressures for Indian IT companies.