A team from Reliance has travelled to China to speed up the work, one of the sources said
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil directly from Russia's Rosneft, they said. Reliance had in December 2024 signed a term deal with Russia's Rosneft - now sanctioned - to import as much as 500,000 barrels per day of Russian oil for 25 years. It also buys oil from intermediaries. The company did not immediately respond to
Reliance, which operates the world's largest refining complex at Jamnagar in Gujarat, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian major Rosneft
While Reliance's typical diet does include crude from the region, the recent spurt of buying was more active than usual
RIL reported a consolidated net profit of ₹18,165 crore in Q2FY26, up 9.7 per cent year-on-year (Y-o-Y) but down 32.7 per cent quarter-on-quarter (Q-o-Q) from ₹26,994 crore in Q1FY26.
In the past, Reliance had seen a gap-up open post Q4FY25 results in April following which the stock rallied over 19% in the next three months. Here's a trading strategy at current levels.
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Reliance benefited from benign raw material and crude oil prices
RIL's revenue from operations increased to Rs 2.59 trillion from Rs 2.35 trillion in the July-September quarter
JP Morgan, in a recent report, said that RIL's consumer businesses are set to drive nearly all of the group's earnings growth in the coming years
Q2FY26 company results: JSW Steel, REC, Polycab India, L&T Technology Services, Tejas Networks, and Dixon Technologies are also to release their July-September quarter earnings reports today
Leading the list is GNG Electronics (Target: ₹482 | Upside: 52%), named by Nirmal Bang, which expects robust growth as the company benefits from the govt's 'Make in India' thrust on electronics mfg.
Around 7:20 AM, GIFT Nifty futures were down 41.6 points at 25,614.5, indicating a negative start.
Reliance Q2FY26 results may show muted earnings Q-o-Q. Jio & oil-to-chemicals could boost Ebitda, while upstream business may weaken. RIL Q2 results are due on Oct 17, 2025
Reliance Consumer Products relaunches iconic Tamil Nadu brand Velvette with a new premium range of personal care products and actress Krithi Shetty as brand ambassador
JP Morgan said Reliance's consumer arms Retail and Jio will drive nearly all of group EBITDA growth over the next three years, as oil-to-chemicals declines in value share
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Nomura said that the INR's depreciation remains a headwind for OMCs and CGDs, as their input costs are dollar-linked while revenues are in rupees.
India's data centre capacity is expected to quintuple to 8GW over the next 5 years, driven by rising internet traffic, growing adoption of AI & stricter regulatory mandates around data localisation.