Reliance Industries shares surge nearly 12 per cent in single session
The stock's sharp rise on November 2 boosted the company's market capitalisation by almost ₹2 lakh crore.
Reliance Industries shares rose nearly 12 per cent on Monday, November 2, marking their strongest single-day performance since April 2020, according to Mint. The surge increased the company's market capitalisation by almost ₹2 lakh crore in one trading session.
On Tuesday, November 3, RIL shares fell over 1 per cent due to profit-booking and ended 0.55 per cent higher at ₹1,306.20 on the BSE. Despite the rebound, the shares have traded more than 17 per cent lower so far in 2026.
Apurva Sheth, Head of Market Perspectives and Research at SAMCO Securities, said the stock witnessed an extraordinary volume breakout alongside an almost 11.6 per cent single-session surge. Sheth noted that in nine previous instances since 2000 where Reliance gained more than 5 per cent in a session with high volumes, all delivered positive one-year forward returns.
The company reported a record consolidated EBITDA of ₹62,409 crore and a record PAT of ₹29,550 crore for the September quarter. The oil-to-chemicals business saw EBITDA rise 67.9 per cent, while Jio's EBITDA grew 16.6 per cent.
Gaurav Arora, Head of Research at SAHI, said the stock broke out decisively above ₹1,225. He noted that for a confirmed trend reversal, the stock needs to overcome resistance at ₹1,325.