The promoters of Reliance Industries Ltd raised their equity stake in the company during the April-June quarter, as per the latest shareholding pattern. The promoter group holding rose by 48 basis points to 50.48%.
Shares of Reliance Industries gained 2% in afternoon trade on Friday following the disclosure, making it one of the top gainers on the Nifty 50. The stock traded at Rs 1,322.50, giving the company a market capitalisation of about Rs 17.87 lakh crore.
The increase in promoter holding comes ahead of the company's fiscal first-quarter earnings, due later in the day. Brokerages expect a resilient performance from the oil-to-telecom conglomerate for the three months ended June 2026.
The oil-to-chemicals business is expected to benefit from stronger refining margins and firmer petrochemical spreads. However, estimates differ on how much the improvement in benchmark margins will translate into earnings due to operational and policy-related headwinds.
Reliance Jio is expected to remain a key earnings driver, supported by continued subscriber additions and a modest rise in average revenue per user. Reliance Retail is also likely to report healthy revenue growth, though profitability will be closely watched amid ongoing investments and margin pressure.
The upstream oil and gas business is expected to remain relatively weak, with lower production volumes likely to weigh on earnings despite the elevated crude oil environment during parts of the quarter.
Investors will focus on management commentary on refining and petrochemical margins, Jio's subscriber and ARPU trajectory, retail profitability, and updates on new energy businesses.