 "Reliance Industries rallies 3% in 2 days; nears record high; here's why")
Reliance Industries share price today
Reliance Industries (RIL) share price hit a 52-week high of ₹1,592.50 on the BSE, gaining 1.5 per cent in Thursday's intraday trade, extending its previous day's up move on a stable business outlook.
In the past two trading days, RIL stock has rallied 3 per cent on the stock exchange. It surpassed its previous high of ₹1,580.90, which it touched on November 28, 2025. Notably, RIL is trading close to its all-time high level of ₹1,608.95, hit on July 8, 2024.
In the past one year, RIL shares have outperformed the market by surging 30 per cent, as against 9 per cent rise in the BSE Sensex. CATCH STOCK MARKET UPDATES TODAY LIVE
What's driving Reliance Industries shares higher today?
India Ratings and Research (Ind-Ra) expects RIL to maintain its superior financial flexibility due to its high cash flow generation, large cash reserves, and proven access to capital markets. The rating agency also expects continued strong cash flow generation from existing consumer facing and oil-to-chemical (O2C) business verticals to keep credit ratios healthy, even as RIL embarks on its investment drive in new age businesses.
"RIL owns one of the largest ethane transportation facilities through which it can import sizeable quantum of ethane from North America. This gives RIL a significant feedstock flexibility for its balanced cracker portfolio, which includes heavy (naphtha) and light feed (ethane, ROGC) crackers. We believe the O2C segment is likely to exhibit a stable performance in FY26, given the refining margin recovery H1FY26, while domestic petrochemical demand has remained strong," India Ratings and Research said.
The rating agency expects Reliance Jio Infocomm's (R Jio's) average revenue per user (Arrpu) to continue to grow organically, backed by a continued consumer shift to higher-value broadband plans along with rising data usage. This, along with the inherent operating leverage, would help RIL in reporting strong cash flow from its digital service business.
RIL's other retail business -- Reliance Retail -- is India's largest retailer in terms of revenue and profitability, and the only Indian entity to feature among the top 100 global retailers. RIL has expressed its ambitions to double the revenue of retail business over the next three to four years. ALSO READ | ITC slips 6%, Godfrey Phillips 10% as addl excise duty effective from Feb 1
Ind-Ra notes that over the last decade, RIL has successfully incubated businesses of the future, such as digital services and retail, and has transformed itself from being a legacy oil & gas (O&G) business. In telecom, RIL is the industry leader, and has made significantly larger investments in 5G than its peers.
Analysts at BNP Paribas India, meanwhile, think that RIL is well-positioned to benefit from the rising data demand in India and an increase in telecom tariffs.
"Its retail business is industry-leading across grocery, fashion and consumer electronics. The upstream O&G business had a significant turnaround, with the start of new production from KG-D6 gas fields," the brokerage firm in its Q2 result review report.
RIL's new green-energy businesses (solar, batteries, fuel cells and hydrogen), the brokerage noted, look promising, though we await more visibility. BNP Paribas India has an 'Outperform' rating on RIL stock with a share price target of ₹1,785 per share.
Ramp-up of the retail business, larger-than-expected benefits of tariff hikes, higher visibility on profitability of the new energy businesses and likely initial public offerings (IPOs) of Reliance Retail and Jio are key risks to the upside for the target price.
Slowdown in consumer retail, delay in tariff hike, and higher-than-expected pressure on refining margins for the O2C business, on the contrary, are key risks to the downside.
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