India: Reliance Industries Ltd. (RIL), led by Asia’s richest man Mukesh Ambani, is witnessing a massive rally in 2025. After two years of relatively muted performance, RIL shares have bounced back strongly, outshining the Nifty 50 index by the widest margin in five years.
As of now, RIL’s stock has zoomed over 22% since January, compared to just a 6% gain in the Nifty 50, according to Bloomberg. This surge has added nearly $40 billion to the company’s market capitalisation, accounting for almost one-third of the total value gain of the entire benchmark index!
What’s Fueling the RIL Share Rally?
Analysts say this renewed investor interest is driven by strong fundamentals across multiple verticals refining, telecom, and retail.
RIL’s flagship Oil-to-Chemicals (O2C) business is expected to benefit from higher refining margins in Q1 FY26, while Jio, its telecom arm, is likely to post gains in average revenue per user (ARPU) and fresh subscriber additions. Retail, another key pillar, continues to perform well as consumer spending stays strong.
According to Harshraj Aggarwal of Yes Securities India Ltd., “All three engines of Reliance O2C, Jio, and Retail are firing together, which is a rare but powerful growth combination.”
Q1 FY26 Earnings: What to Expect?
RIL is scheduled to announce its Q1 FY26 results on Friday, and experts are predicting a 33% YoY jump in net profit, which would mark its strongest quarterly growth in three years.
Investor sentiment remains bullish. Out of 37 analysts tracked by Bloomberg, 34 have either a ‘buy’ or ‘accumulate’ rating on the stock. The average target price is ₹1,577, implying a further 7% upside from Thursday’s closing price.
What’s Next for RIL Share Price?
Ajit Mishra, a market expert at Religare Broking, says the technical chart still looks promising. “If RIL sustains above ₹1,500–₹1,520 levels, we could see the stock rally further towards ₹1,600–₹1,620,” he notes.
While short-term consolidation is possible, the long-term outlook remains robust, supported by strong earnings, strategic diversification, and consistent innovation.