Reliance Industries shares surge for fourth straight session, hit record high; here is all you need to know

Shares of Reliance Industries, the country's most valuable company, rose for a fourth straight session on Monday, January 5, to hit a record high of ₹1,611.80 on the National Stock Exchange. In the intraday deals, Reliance Industries shares rose as much as 1.22% and in the last four trading sessions the stock has gained as much as 4.67%.

With today's surge in Reliance Industries share price, its market capitalisation rose to ₹21.62 lakh crore and in the last four trading sessions the market capitalisation of the country's most valuable company has risen by ₹83,000 crore.

Reliance Industries shares came under buying interest after the company last week said that a report which suggested that government has claimed $30 billion from Reliance Industries and BP for underproduction from gas field were factually incorrect.

The Mumbai-based company said that there is no claim of $30 billion against Reliance and BP. The claim made by government of India in relation to KG D6 Block is of the order of $247 million which has been appropriately and consistently disclosed in the company’s annual audited financial statements, in accordance with its disclosure requirements.

Meanwhile, global investment bank Jefferies in a note said that Reliance Industries and ONGC could benefit from US takeover of Venezuelan oil. US oil majors may invest to drive up production, and this could weigh on crude prices in 2027-28, unless OPEC+ decides to balance the market.

Lifting of US sanctions would allow Reliance to buy advantaged Venezuelan crude and ONGC might receive $500 million of unpaid dividends, Jefferies noted.

Reliance has in the past purchased 20% of its daily crude requirement from PDVSA (state-owned oil and gas company of Venezuela) and it could tie up supplies at a $5-8/bbl discount to Brent which could aid its gross refining margins (GRMs) going ahead, Jefferies added.

Jio IPO buzz

Reliance Jio Platforms, the digital and telecom arm of Reliance Industries, is set to launch one of India’s largest ever IPO. The company has started preparing a draft prospectus, with formal filings expected once new IPO regulations are in place.

Reliance Industries Chairman Mukesh Ambani at its AGM last year said that the IPO is scheduled for the first half of 2026, making it one of the most eagerly awaited listings in the Indian stock market.

Reliance Industries Q2 earnings

Billionaire Mukesh Ambani-backed company in October last year reported a consolidated net profit of ₹18,165 crore in the second quarter of the current financial year, marking an increase of 10% from ₹16,563 crore in the same period last year.

The oil-to-telecom conglomerate's revenue from operations jumped 10% to ₹2,58,898 crore in the July-September period from ₹2,35,481 crore in the year-ago period.

The company on a consolidated basis reported a strong operational performance, as its operating profit, also known as EBITDA (earnings before interest, tax, depreciation and amortisation), jumped 18% to ₹45,885 crore and its operating profit margin expanded by 120 basis points to 18%.

As of 11:21 am, Reliance Industries shares came of their record highs to trade 0.34% higher at ₹1,595, outperforming the NIFTY50 index which was trading with a negative bias.