Reliance Industries will announce its Q2FY27 results on Friday, October 30, a few days after the listing of Jio Platforms. At the same board meeting, the company will also consider raising funds through non‑convertible debentures (NCDs). Experts predict double‑digit growth in revenue, net profit and EBITDA, driven by a recovery in the oil‑to‑chemicals (O2C) business, strong refining margins and a weaker rupee. The company’s September quarter results are expected to reflect these factors, with analysts closely monitoring the performance of its retail, O2C, and oil and gas segments.

According to experts, Reliance’s consolidated Q2 revenue could range between ₹3.12 lakh crore and ₹3.15 lakh crore, up 23% to 24% year‑on‑year and 1% to 2% quarter‑on‑quarter. The company reported revenue of ₹3.09 lakh crore in the previous quarter and ₹2.54 lakh crore in Q2FY26. Net profit could rise 16% to 20% year‑on‑year to between ₹21,100 crore and ₹22,110 crore, compared with ₹18,165 crore in Q2FY26 and ₹20,946 crore in the previous quarter.

Consolidated EBITDA is expected to rise 15% to 17% year‑on‑year to between ₹51,000 crore and ₹53,000 crore, mainly due to the recovery in the O2C business. Investors will closely track the Q2 results to gauge the performance of the retail, O2C, and oil and gas businesses. Management commentary on the new energy business and the overall business outlook will also be watched closely.

Ahead of the Q2 results, Reliance Industries shares closed 0.8% higher at ₹1,167 on Thursday, October 29. The stock is down 25% so far this year, amid volatile crude oil prices and a sell‑off in the broader market due to global geopolitical concerns. The company goes into its Q2 results sitting right on a key support level, with the bounce limited and sellers still active on any rise.

The trend remains weak, with the stock trading below its 20‑day EMA and 50‑day EMA, and the 20‑day EMA has been below the 50‑day EMA since mid‑September. The Directional Movement Index (DMI) reflects sellers in control and the ADX at 27 has flattened, indicating a steady downtrend rather than a speeding up. The options market expects a move of about ±5.6% by expiry, putting the expected range at roughly ₹1,110 to ₹1,242.

If the stock stays in a range, a short straddle could be considered, profiting if it remains between roughly ₹1,104 and ₹1,236 until November expiry. However, a breakdown below ₹1,152 could lead to a sharp fall. Conversely, a long straddle could be considered if a sharp move is expected after results, with a break below ₹1,152 or a recovery above ₹1,234 potentially triggering a larger move.