Sunset over large industrial petrochemical refinery complex in Gujarat, India
Reliance Industries is slated to announce its June-quarter results on Friday, July 17, 2026, with analysts anticipating a significant uplift in earnings. The conglomerate’s consolidated Q1 revenue is projected to surge between 23% to 27% year-on-year, potentially reaching ₹3.01 to ₹3.10 lakh crore. This robust growth is primarily attributed to a strong recovery in the oil-to-chemicals (O2C) business, improved refining margins, and consistent performance from its telecom arm, Reliance Jio.
Net profit is also expected to see a sequential increase of 6% to 10%, with forecasts ranging from ₹17,900 to ₹18,670 crore. Consolidated EBITDA is projected for a single-digit growth of 4% to 6%, largely propelled by the O2C segment. Furthermore, Reliance Jio’s average revenue per user (ARPU) is forecasted to improve by 3% to 5% year-on-year, indicating steady subscriber value growth.
Beyond the headline figures, investors will be closely scrutinizing the Q1 results for insights into the performance of Reliance’s diverse retail, telecom, and oil refining businesses. Crucially, management commentary on the nascent new energy business and any further details regarding the highly anticipated Reliance Jio IPO will be key areas of interest, potentially shaping future investment sentiment.
Ahead of the results, Reliance Industries shares closed 0.3% higher at ₹1,300 on Thursday, July 16. However, the stock has experienced a 17.7% decline year-to-date, a reflection of crude oil price volatility and broader market sell-offs influenced by global geopolitical concerns. Technically, the stock remains range-bound with a mild negative bias, trading below its 20-day and 50-day Exponential Moving Averages (EMAs). The DMI favors sellers, but a weak ADX suggests consolidation. Immediate support is around ₹1,280, with major support near ₹1,259. A sustained move above ₹1,321 could lead to ₹1,345, otherwise, the stock may remain within the ₹1,260–₹1,345 range.
The options market currently indicates a potential price movement of approximately ±4% for Reliance Industries, based on an at-the-money strike price of 1,300 for the July 28 expiry. Traders anticipating a sharp post-earnings move without a clear directional bias might consider a long straddle strategy, while those expecting the stock to remain range-bound could opt for a short straddle.
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