Shares of Reliance Industries fell nearly 1.9% to ₹1,448.10 on Monday, July 21, despite posting a strong set of Q1 FY26 results. The company reported a consolidated net profit of ₹26,994 crore, up 78% year-on-year, supported by a significant gain of ₹8,924 crore from the sale of its Asian Paints stake.
Revenue rose 5% to ₹2.49 lakh crore, while EBITDA climbed 11% to ₹42,905 crore with margins expanding to 17.25%. Reliance Jio posted a 25% jump in net profit to ₹7,110 crore, driven by a 19% rise in revenue to ₹41,054 crore and a 24% EBITDA growth to ₹18,135 crore.
The retail business delivered a 28% increase in net profit to ₹3,271 crore, though revenue growth at 11% came below expectations.
Brokerages remain largely positive, with Nuvama, Jefferies, and HSBC maintaining ‘Buy’ calls and target prices implying 8–20% upside. However, Morgan Stanley and Macquarie flagged concerns about softer retail growth and potential headwinds from European sanctions on Russian oil. Analysts note strong telecom and new energy segments, but expect near-term moderation in stock performance as the one-time investment gain inflates earnings.
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