4 days Ago
Reliance Industries Ltd . added a whopping ₹1.4 lakh crore to its market capitalisation over just two sessions—outstripping the combined gains of the remaining 49 Nifty50 constituents.
The surge comes on the back of stronger-than-expected March quarter earnings and renewed investor optimism around its high-growth segments, particularly retail and digital ventures. The rally reinforced Reliance’s dominant position in the index, with the stock alone contributing over 50% to the Nifty50’s total gains during the period. Currently, Reliance commands a 9.
3% weight on the benchmark index. ICICI Bank, Bharat Electronics, and SBI were other notable index gainers, with market cap additions ranging from ₹12,000 crore to ₹18,000 crore. On the flip side, UltraTech Cement was the biggest loser during the same period, shedding nearly ₹11,000 crore in market value.
For the three months ended March 2025, Reliance Industries reported a better-than-expected quarterly profit, driven by strong performances in its oil-to-chemicals business and consumer-facing segments. The consolidated net profit rose 2.4% year-on-year to ₹19,407 crore, while quarterly revenue grew 10.
5% y-o-y to ₹2.6 lakh crore. According to Jefferies, the consolidated EBITDA of Reliance Industries came in marginally ahead of its estimates, with Retail and O2C segments outperforming by 4% and 2%, respectively.
“The core retail business of the company grew 15.6% as streamlining efforts concluded, while Jio's improving free cash flow and rising home broadband adoption offered further upside. Further, O2C margins benefitted from refining tailwinds, though the outlook remains soft for FY26,” Jefferies wrote in an investor note.
The foreign brokerage further added that gains in retail, a potential tariff hike, and a possible Jio listing as key FY26 triggers. Shares of Reliance rose 2.3% on Tuesday, extending their two-day rally to 7.
6%—marking the biggest such move in four years. The company now boasts a market capitalisation of ₹18.9 lakh crore, nearly 10% of the total Nifty50 market cap.
Analyst sentiment remains overwhelmingly positive, with over 92% of Bloomberg-tracked analysts maintaining a “Buy” rating on the stock—up from 80% a year ago..
