Reliance Industries, a large Indian conglomerate, reported a record quarterly profit of about 29,550 crore rupees.
The profit rose about 34% from a year earlier.
Refining and petrochemicals led the gain.
Its shares jumped on Monday.
India’s main stock indices rose for a third day.
The gap could come from a difference in how profit is defined, but that could not be confirmed from the reports, so the company’s exchange filing is the best check.
Reliance shares rose on Monday, November 2, 2026, and were the top gainer on the Nifty 50, according to the reports.
IIFL’s midday report said the stock was up over 8%, with an intraday high of about Rs 1,260 and market capitalisation above Rs 17 lakh crore, its largest one-day gain in 2026 since April 2020.
A closing-bell headline reported a gain of about 11.6%, and other reports put the move between roughly 7% and 8% earlier in the day, so the size of the move depends on the time of the report.
The Sensex rose about 1,233 points, or 1.66%, to 75,692.78 on November 2, and the Nifty 50 gained about 388 points, or 1.68%, to 23,440.80, according to Business Standard’s closing report.
That was the third straight day of gains for the indices, and falling oil prices also helped, according to Business Standard.
Jefferies, Kotak and JPMorgan kept positive views after the results, with targets of Rs 1,710, Rs 1,500 and Rs 1,675 respectively, and Nomura kept a Buy rating with a target of Rs 1,560, according to TradingView’s summary of brokerage notes.
Jefferies said consolidated EBITDA was ahead of its estimates by about 6%, according to the same summary.
The Jio Platforms IPO opened for subscription on October 21, 2026, with an issue of about Rs 30,213 crore, according to IIFL, though no source links the November 2 rally directly to it.
Reliance petrol pump (file image), Wikimedia Commons, CC BY 3.0
