Reliance Industries

Reliance Industries has taken a painful hit. On October 12, 2026, shares traded around ₹1,164, nearly 28% below their 52-week high of approximately ₹1,612. Is the market uncovering a deeper problem, or is this a potential opportunity to buy a major Indian business at a substantial discount? The latest results tell a more complicated story. In the first quarter of fiscal 2027, revenue reached ₹340,257 crore, up 25% year over year. Earnings before interest, taxes, depreciation and amortization climbed 10% to ₹54,067 crore, while net profit rose 6% to ₹23,196 crore. The operating margin, measured by this earnings figure against revenue, was approximately 15.9%. Digital services and refining performance supported results, but higher financing costs and depreciation remain concerns. The share-price weakness reflects broader Indian market pressure, foreign investor selling, inflation worries and rising oil prices. Meanwhile, Reliance is investing heavily in digital services, retail and new energy, creating growth potential but demanding substantial capital. Dividends rose from ₹9 per share in 2023 to ₹10 in 2024, before the 2025 payment of ₹5.50 following a one-for-one bonus issue. A recovery could follow if earnings growth strengthens and market sentiment improves. Yet expensive investments, volatile energy markets and further market declines could delay it. A lower share price alone does not prove a stock is undervalued. This review is for informational and educational purposes only, not financial advice.