GTL Infrastructure Ltd has plunged 45 per cent, IREDA eroded 35 per cent of its market value, RattanIndia Power Ltd lost 33 per cent while Reliance Power tumbled 23 per cent during the one-year period.
The retail arm of Reliance Industries continued its physical expansion, adding 431 new stores during the quarter. This took its total store count to 19,979, with an area under operation of 78.1 million square feet across formats.
Reliance Industries, the heavyweight of Dalal Street, is set to announce its Q3 earnings today, and the numbers could decide market direction for the coming week. Expectations are high as investors track strong performance in the oil-to-chemicals (O2C) business, where EBITDA growth of nearly 15% is anticipated despite crude volatility and lower Russian oil imports. While Jio has already delivered solid results, the spotlight now shifts to Reliance Retail, which continues to face competitive pressure and slower revenue growth. Investors are also keenly watching the buzz around a potential Jio IPO and the company’s massive ₹40,000 crore capex push across O2C, retail, telecom, and new energy. Will retail surprise positively or weigh on the stock? All eyes are on RIL tonight.
Mukesh Ambani led oil, telecom and retail behemoth Reliance Industries (RIL) will announce its results for the quarter and nine-months ended on December 31, 2025.
Market expert Deven Choksey shares his high-conviction stock picks across market caps for the next 12–24 months, focusing on visibility, compounding and structural growth. In large caps, Reliance Industries tops the list, backed by potential Jio Platforms and retail listings, renewable energy scale-up and a renewed growth cycle. Bajaj Finance remains another preferred compounder, with buying opportunities likely on corrections. In the mid-cap space, Mindacorp stand out, riding the growth in two-wheeler and four-wheeler segments with steady earnings visibility. Among smaller names, Jaro Education (Jaro Technologies) attracts attention for strong growth without cash burn, while Tata Technologies offers long-term potential through deep integration with global OEMs. These picks reflect a balanced, long-term investment approach.
On the final day of 2025 - a challenging year with Nifty delivering ~9-10% returns amid volatility, FII outflows, and mid/small-cap pain - analyst Deven Choksey of DR Choksey sees strong promise for 2026. India enters as the world's fourth-largest economy with robust 7.3-7.5% GDP growth projections, lower taxes, reduced GST rates, falling interest/inflation, and export-boosting FTAs. Markets remain reasonably valued at ~20x forward P/E. He expects large-caps to lead, with selective mid/small-caps offering opportunities only on corrections. Key optimism lies in IT (TCS, Infosys via AI shift), NBFCs (Bajaj Finance, Shriram Finance, Bajaj Housing), autos (Mahindra & Mahindra, Bajaj Auto, ancillaries like Minda), Reliance (for Jio/retail listings), and education players like Jaro Education. Mid/small-caps face consolidation, not boom.
YES Bank, with 61.65 lakh retail investors, barely managed to meet Nifty returns at 9 per cent. Vodafone Idea cheered over 60 lakh retail investors with a solid 52 per cent surge. Suzlon Energy disappointed.
Sharad Avasthi, Head of Research (PCG) at SMIFS, discussed the outlook for NBFC stocks and silver in the current market. He highlighted Sriram Group's strong pedigree and governance, positioning it for strong growth, especially with expectations of a strong commercial vehicle (CV) cycle. While the stock is expected to perform well in the long term, Avasthi advises against fresh entries at this stage, suggesting holding existing positions for potential targets around ₹1,100. Regarding silver, he noted the ongoing volatility, emphasizing that institutional players are taking short positions to capitalize on the popularity of silver among retail investors. Avasthi prefers Hindustan Zinc over silver, citing the company's reliance on silver profits but also expressing concerns about its current valuation. On MCX, he cautioned against buying at high valuations, given the volatility in commodity markets.
Abhishek Basumallick, Co-founder & Fund Manager at Shree Rama Managers, says Reliance Industries is witnessing one of its strongest rallies since 2020 and is on track for its biggest annual bull run. The stock is already up around 26% in 2025, adding nearly ₹4.5 lakh crore to market capitalization, driven largely in the last couple of months. He attributes the momentum primarily to strong performance in the telecom business, improving refining margins, and growth traction in Jio Financial. He adds that Reliance Retail, after heavy investments, is expected to contribute meaningfully to cash flows. With supportive sentiment and factors like GST cuts, Reliance appears well-positioned in the near term.
According to Mayuresh Joshi, Head of Equity Research at William O'Neil India, two key elements are currently driving sentiment around the stock: the halt in Russian oil intake and movements in the Singapore Gross Refining Margin (GRM).
Stocks including Reliance Industries, Swiggy, TCS, MTAR Tech, ITC, Welspun Corp, NTPC, Bharat Electronics, LTIMindTree, DLF and more will be in the spotlight on Friday, October 31.
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