Reliance Q2 FY26 Results Live: Market Reaction, Jio, Retail & O2C Outlook
Market reaction & stock movement
Ahead of the results, Reliance shares saw notable activity as traders positioned for a mixed quarter. Pre-market / early session moves suggest investors are pricing in firm retail and Jio performance but caution on O2C and upstream volatility. Watch intraday price action for immediate sentiment.
What analysts expected before results
- Revenue: Modest QoQ growth expected on consolidated basis.
- Net profit: Could show pressure due to base effects or exceptional items.
- Jio: ARPU and subscriber additions are the primary focus.
- Retail: Store additions, same-store sales and margins matter for investor confidence.
- O2C (Oil to Chemicals): Refining margins and GRM influence segment profit materially.
Key metrics to watch (live)
| Metric | What to look for |
|---|---|
| Revenue | Growth vs. estimates; segment mix (Retail, Jio, O2C) |
| Net profit | Beat or miss vs. consensus; one-time items |
| Jio ARPU | Movement in ARPU and subscriber additions |
| Retail KPIs | Revenue growth, EBITDA margin, store openings and digital sales |
| Refining margin (GRM) | Impact on O2C EBITDA |
Possible surprises and market triggers
Beyond the headline numbers, investors will watch for:
- Guidance on future capex, especially for energy transition and digital businesses.
- Updates on the planned Jio IPO or progress on any demerger plans for retail/FMCG.
- Announced strategic partnerships, new energy investments or large asset deals.
Analyst view (summary)
Most brokerages expected Reliance to deliver a mixed quarter: strong operational momentum in Retail and Jio but limited comfort from O2C and upstream. Any positive surprises in non-O2C segments are likely to be rewarded by markets.
Live updates (sample timeline)
(Replace timestamps with live feed values)
- 10:00 AM: Results announced — consolidated revenue ₹XXX, net profit ₹YYY (compare vs consensus).
- 10:10 AM: Markets react — RIL shares change by X% on BSE/NSE.
- 10:25 AM: Management commentary — Jio ARPU up/down, retail same-store sales comment.
- 11:00 AM: Analysts revise estimates — broker notes summarized.
Conclusion — What this means for investors
Reliance’s performance in Q2 will set the tone for the near term. Investors should watch management commentary carefully, especially on future guidance and any strategic updates on new energy and digital investments. Short-term price moves will depend on surprises in Jio and Retail numbers rather than O2C alone.
Bottom line: Focus on ARPU, retail fundamentals and management outlook — numbers matter, but guidance will drive the next leg.
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