Mumbai, Jan 17, 2026, 17:51 IST — Market closed.
Reliance Industries Ltd (RELI.NS) shares finished Friday nearly flat, slipping 0.06% to close at 1,457.90 rupees on the NSE. With Indian markets closed over the weekend, the first meaningful price move will come when trading resumes Monday. Investing.com
Reliance reported net profit attributable to shareholders at 186.45 billion rupees for the quarter ending Dec. 31, falling short of the 196.44 billion-rupee consensus from analysts tracked by LSEG. The shortfall was driven by rising costs and weaker oil and gas production, which outweighed stronger results in refining and telecom. On the earnings call, refinery and marketing COO Srinivas T mentioned the company “faced instances where sanctions were imposed suddenly.” Reliance also confirmed it is still weighing an IPO for Reliance Jio Platforms this year. Reuters
The company reported a 10.5% year-on-year rise in revenue from operations, hitting 269,496 crore rupees. EBITDA climbed 6.1% to 50,932 crore. Oil-to-chemicals (O2C) EBITDA jumped 14.6%, while Jio Platforms’ EBITDA surged 16.4%, with Jio announcing its 5G subscriber base has topped 250 million. Retail EBITDA nudged up 1.3%, supported by a 4.6-fold increase in hyper-local delivery orders. Meanwhile, the oil and gas segment faced a 12.7% decline in EBITDA. Chairman Mukesh D Ambani highlighted “consistent financial delivery and operational resilience” this quarter, and pointed to ongoing efforts in AI and New Energy.
Overseas trading provided an early signal. Reliance’s global depository receipts (GDRs)—which represent shares and trade internationally—dropped about 2% to $64.40 in London. Analyst Mahesh M Ojha from Kantilal Chaganlal Securities noted this indicated investors “were not happy” with the earnings. mint
Jio’s average revenue per user (ARPU), a key measure of customer spending, ticked up to 213.7 rupees from 211.4 in the previous quarter, according to the Economic Times. The report also highlighted an 11.2% jump in Jio’s profit, reaching 7,629 crore rupees. The Economic Times
The upcoming session will depend on whether investors can move beyond the headline miss and zero in on transport fuel margins and subscriber growth.
Retail looks set to remain the key variable. Traders are eyeing any hints that the heavy discounting and rush for fast delivery, which crushed margins during the holiday quarter, might be letting up.
Energy remains a key pressure point. A sudden change in sanctions or crude supply routes can swiftly alter what Reliance shells out for feedstock—and what it pockets from fuels and petrochemicals.
The downside scenario is clear: mature gas fields continue to decline, retail competition ramps up promotions, and the recent strong fuel margins start to fade. In that setup, the stock would have to rely heavily on telecom to carry the load.
Reliance shares will be back in focus when India’s cash equity market reopens Monday, Jan. 19. Traders are eager for the first local response to the company’s latest results and management remarks.
