RIL shares: Investor wealth swells Rs 56,000 crore; 3 reasons why stock is a Buy 

Shares of Reliance Industries climbed over 3 per cent in Monday's trade, following the oil-to-telecom major's September quarter results, adding nearly Rs 56,000 crore to investor wealth.  The stock rose 3 per cent to hit a high of Rs 1,460.60 on NSE. RIL's investor wealth, as suggested by the company's market capitalisation, climbed Rs 55,551 crore to 19,73,035 crore earlier today from Rs 19,17,484 crore on Friday.

Emkay Global said RIL reported a 4 per cent consolidated Ebitda beat in Q2FY26, with Retail and Other segments’ earnings being better than expected. Consolidated PAT came in line with expectations, as other income declined 8 per cent YoY and depreciation rose due to Jio 5G capex.

Retail revenue and Ebitda were above estimates, with growth across segments (including quick commerce). RIL reiterated its growth guidance.

"Reliance Intelligence’s launch marks an ambitious foray into the AI space, with investments in GW-scale data centers in Jamnagar and various partnerships to develop AI applications for consumers and enterprises. In New Energy, the cell line will start this month, while the RTC RE ecosystem (including modules, batteries, and generation) is expected to be commissioned from H1FY27. We maintain our constructive view on RIL, with slight increases in FY26-28E Ebitda; we retain Buy, while raising our target by 5 per cent to Rs 1,680," Emkay said.

ICICI Securities said RIL is incurring capex to accelerate New Energy, petchem and AI-related plans, with clarity emerging on timelines and milestones on each of these segments. Oil-to-chemicals (O2C) prospects remain resilient, with strong domestic demand helping offset weak global margins in petchem, while strong diesel, ATF and gasoline spreads helping expand GRM against benchmarks. It values RIL stock at Rs 1,610.

Nuvama highlighted three key drivers for RIL, as it maintained a 'Buy' rating on the stock with a target price of Rs 1,769.

The first is New Energy (NE) ecosystem. The cell facility is set to start next month, with 10GW module/cell production potentially contributing 6 per cent to FY27 consolidated PAT. The broader value chain, including 40GWh BESS and 3GW electrolyser capacity, is expected to contribute from FY28 onwards.

Nuvama cited RTC power plant in Kutch scheduled for H1FY27. It said the 3MTPA GH2 production plant could reduce captive power costs by 25 per cent, potentially adding 6 per cent to PAT.

Besides, it cited artificial Intelligence (AI), adding that all data centre investments will be routed via RI, alongside a Meta joint venture to develop AI solutions.

Additional initiatives include a focus on FMCG brand building and food parks, as well as a PVC expansion targeted by end-CY26, it noted.