Reliance stock falls 2.32 percent as oil worries hit India

Published on 09/28/2026 at 17:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Reliance stock fell 2.32 percent to INR 1,197.60 on September 28, 2026, at the NSE. Q1 FY27 revenue rose 25.41 percent, while profit fell 22.40 percent.

Reliance, INE002A01018, Illustration mit AI erstellt.

Reliance Industries (ISIN INE002A01018) fell 2.32 percent to INR 1,197.60 at the NSE on September 28, 2026, matching its 52-week low. The decline came as Indian equities approached a six-month low and oil prices rose after US-Iran talks reached a deadlock, according to Reuters on September 28, 2026.

Revenue rises in Q1 FY27

Reliance reported consolidated revenue of INR 311,850 crore for the quarter ended June 30, 2026, up 25.41 percent from INR 248,660 crore a year earlier, according to Sahi. The result shows strong top-line expansion, but it did not translate into higher reported profit because the prior-year comparison included a one-time gain.

Consolidated net profit stood at INR 20,946 crore in Q1 FY27, down 22.40 percent year over year. Excluding exceptional items, profit grew 15.9 percent, while outstanding debt declined to INR 369,705 crore from INR 374,421 crore at the end of March 2026, Sahi reported.

Jefferies keeps a bullish target

Jefferies retained its Buy rating and raised its Reliance target to INR 1,710 from INR 1,705 in a September 1, 2026 assessment published by Business Standard. The brokerage pointed to oil-to-chemicals strength, firm petrochemical spreads and a potential recovery in retail growth as the main earnings supports.

The target is INR 512.40 above the September 28 closing price, highlighting the gap between the latest market valuation and the brokerage view. For investors, the central tension is clear: operating revenue is expanding, while exceptional effects and a weaker share price are shaping the reported earnings picture.

Stock sits at yearly low

Reliance closed at INR 1,197.60 on September 28, 2026, at the NSE, with a session high of INR 1,219.70 and volume of 13,593,103 shares. Its 52-week range was INR 1,197.00 to INR 1,611.80, while market capitalization stood at INR 16.2 trillion.