The operational rebound was primarily powered by strength in the oil-to-chemicals segment alongside steady numbers from Jio Platforms. High trading volumes across major exchanges propelled the conglomerate to lead benchmark index gains during the session. Analysts suggest the sharp upward move was aided by reasonable valuations, fresh institutional capital, and short covering. Market experts now watch the ₹1,320–1,330 range for a potential trend reversal signal.
Key points
Operational strength in the oil-to-chemicals division and Jio Platforms drove the substan…: Operational strength in the oil-to-chemicals division and Jio Platforms drove the substantial surge in investor demand.
A decisive trading breakout above the ₹1,320–1,330 level could signal a meaningful trend…: A decisive trading breakout above the ₹1,320–1,330 level could signal a meaningful trend reversal in the near term.
Analysts recommend the equity for medium- and long-term portfolios based on sound operati…: Analysts recommend the equity for medium- and long-term portfolios based on sound operations and potential retail recovery.
Sources checked by our analysis pipeline: 1
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The rally added ₹1.83 lakh crore to the conglomerate's market value, taking it to ₹17.57 lakh crore.
The surge on Monday, the sharpest in a day since April 2020 and the third highest single-day gain in 10 years, prompted analysts to turn more positive on the stock's near-term outlook.
In the near term, the stock could move towards its previous swing high in the ₹1,320-1,330 zone, he said, adding that a decisive breakout above this level would provide stronger confirmation of a trend reversal.
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Reliance emerged as the top gainer on the Nifty and the biggest contributor to the benchmark index's advance, while also leading trading volumes on both NSE and BSE. "RIL reported a strong set of 2QFY27 results on the back of strong O2C performance and in-line performance of the recently listed Jio Platforms business," said Sunny Agrawal, head of fundamental research at SBI Securities.
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