RIL Share Price: Shares of Mukesh Ambani-owned Reliance Industries crashed 3.50 per cent to hit a three-month low after the country's most valuable company
reported flat numbers in the third quarter (Q3 FY26). RIL shares opened lower at Rs 1,450.60 on NSE versus the previous close of Rs 1,457.90. The counter extended the opening losses and made a low of Rs 1,406.30, down 3.54 per cent. Around noon, RIL shares traded close to the day's low to quote at Rs 1,410. A total of 1.06 crore shares of the company changed hands around the same time. At the time of writing this report, RIL was the second top loser in the Nifty 50 pack. On the BSE, RIL traded 3.26 per cent lower at Rs 1,410.10 and was the top loser in the Sensex pack. RIL shares are currently trading lower than all the key moving averages (5-day, 20-day, 50-day, 100-day and 200-day).
RIL Stock: Citi Cuts Target
Post quarterly results, Citi has maintained buy rating on RIL shares and cut the target price to Rs 1,815 from Rs 1,860.
Citi said that RIL's Q3 FY26 consolidated EBITDA came below expectations, primarily on moderation in Retail growth.
However, RIL’s new energy initiatives are progressing steadily and net debt remained largely stable during the quarter, it said.
Citi said that a softer-than-expected Retail performance may weigh on near-term sentiment. It said that RIL shares have already corrected 8 per cent over the past two weeks, limiting further meaningful downside.
RIL Q3 Results FY2026
Earlier on Friday, RIL missed quarterly profit estimates, hurt by weakness in its oil and gas business, higher costs and slowing earnings growth at its retail segment. RIL said that its net profit remained flat at Rs 18,645 crore for the third quarter. The company had earned a net profit of Rs 18,540 crore in the same quarter a year ago.
The country's largest conglomerate saw muted earnings growth in the retail business on GST rate rationalisation, even as its energy and digital businesses provided support.
RIL said that its revenue from operations rose to Rs 2.69 lakh crore from Rs 2.43 lakh crore in October-December 2024.
The oil-to-chemicals (O2C) segment of Reliance Industries, which operates the world's largest refining complex, reported an 8.4 per cent rise in revenue and a 14.6 per cent jump in core earnings. The O2C business is typically exposed to swings in crude prices, refining margins and global demand.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
