Why Did Reliance Industries Shares Jump Over 2% Despite a Weak Market?

Synopsis : Large-cap stock shares jumped 2.17% despite a weak market down 0.77%, driven by a US 30-day waiver allowing Indian refiners to buy stranded Russian oil, sparking strong trading and investor confidence.

A large-cap company that operates across Oil to Chemicals, Oil and Gas exploration, Retail, and Digital Services has come into focus after securing its share price rose over 2 percent despite the market being down by 0.7 percent today. 

With the market capitalization of Rs. 19,21,069.82 crore, the shares of Reliance Industries Limited were trading at Rs. 1,419.70, up by 2.17 percent from its previous day’s close price of Rs. 1,389.40 per equity share. The stock has touched an intraday high of Rs. 1,424.30, implying an increase of 2.51 percent from previous day’s close price.

The Nifty 50 benchmark index opened at 24,646.40, lower than the previous day’s close of 24,765.90, and later touched an intraday low of 24,575.15, marking a decline of 190.75 points or 0.77 percent from the previous session’s closing level.

News

The key trigger for the rally was the US government issuing a temporary general license allowing some Russian oil sales to India. The waiver aims to keep oil flowing in the global market amid rising tensions in West Asia and supply concerns. According to the US Treasury, the 30-day waiver allows Indian refiners to purchase Russian oil already stranded at sea, with the measure set to expire on April 4.

Higher Trading Activity in the Stock

Trading activity in Reliance Industries shares also increased significantly. The stock was trading at around two times its average 30-day trading volume, indicating strong investor interest during the session.

Russia Remains a Key Oil Supplier to India

Russia continues to be India’s largest crude oil supplier, accounting for around 21 per cent of India’s total oil imports in February. India imported roughly 1.1 million barrels per day (bpd) of crude oil from Russia until February 27, highlighting the importance of Russian supplies for Indian refiners.

Singing New Mou

Reliance Consumer Products Limited (RCPL), the FMCG subsidiary of Reliance Industries, has signed a Memorandum of Understanding (MoU) with Finland’s leading foods company Fazer to establish a long-term strategic partnership in India. Under this collaboration, RCPL will produce, market, and distribute Fazer’s premium chocolates and confectioneries nationwide, combining Fazer’s heritage brands and recipes with RCPL’s distribution reach of nearly 3 million retail outlets and expertise in the Indian market. 

The MoU, signed during Finnish President Alexander Stubb’s state visit to India, aims to bring Fazer’s iconic products within reach of Indian consumers and capitalize on the rapidly growing chocolate and confectionery market driven by rising incomes and organised retail expansion.

Financials

Reliance Industries is a diversified conglomerate founded in 1957 and headquartered in Mumbai, India. The company operates across Oil to Chemicals, Oil and Gas exploration, Retail, and Digital Services, offering products such as refined petroleum fuels, petrochemicals, polymers, fibre intermediates, and textiles. 

It also runs large retail store networks and e-commerce platforms, while its digital arm provides telecom connectivity, fibre services, devices, apps, and enterprise digital solutions, along with interests in media and entertainment through Network18.

Reliance Industries reported revenue of Rs. 2,64,905 crore in Q3FY26, registering a 10.4 percent YoY growth compared to Rs. 2,39,986 crore in Q3FY25, while also rising 4.04 percent QoQ from Rs. 2,54,623 crore in Q2FY26, reflecting steady top-line expansion across its key business segments.

Net profit stood at Rs. 22,290 crore in Q3FY26, reflecting a 1.6 percent YoY rise from Rs. 21,930 crore in Q3FY25, while also increasing 0.90 percent QoQ from Rs. 22,092 crore reported in Q2FY26, highlighting consistent profitability despite a high base.

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