Shares of Reliance Industries Ltd (RIL), the country’s most valuable company, extended their strong upward momentum for a second consecutive session on Tuesday, rallying over 10% across two days and adding more than ₹1.4 lakh crore to their market capitalisation.

On February 3, RIL shares opened sharply higher at ₹1,481.45 on the BSE, a gap-up of 6.5% from the previous close of ₹1,390.15. The stock rose to an intraday high of ₹1,489, up 7.1%, before paring some gains to trade around ₹1,445 in early afternoon deals. The market capitalisation of the blue-chip stock climbed by about ₹79,000 crore to ₹19.6 lakh crore, driven by strong buying interest.

The oil-to-telecom conglomerate witnessed healthy trading activity, with around 6.5 lakh shares changing hands on the BSE, compared with a two-week average volume of 9.18 lakh shares.

Reliance has now gained as much as 10.4% over the past two sessions, significantly outperforming the BSE Oil & Gas index, which was up over 3% in intraday trade on Tuesday, supported by firmer global crude oil prices and an improving demand outlook.

On Monday, RIL shares closed 3.22% higher at ₹1,390.40, rebounding from a 3.47% decline on Budget Day, adding ₹59,746 crore to its market value, taking the total to ₹18.81 lakh crore.

RIL trades above key short- and long-term averages

From a technical perspective, Reliance’s last traded price remains above its 5-day, 20-day and 200-day moving averages, signalling strength in both the short and long term. However, the stock continues to trade below its 50-day and 100-day moving averages, indicating resistance in the medium term and explaining the slight cooling in momentum after the sharp rally, according to market research platform Markets Mojo.

RIL shares touched a 52-week high of ₹1,611.20 on January 5, 2026, while the stock slipped to a 52-week low of ₹1,115.55 on April 7, 2025. On a year-to-date (YTD) basis, the blue-chip stock is down more than 8%, even as it has gained over 2% in the past six months and nearly 16% over the past one year.

What boosted RIL shares

The rally in Reliance shares mirrored broader market strength, with the Sensex and Nifty rising nearly 4% in intraday trade on Tuesday following the announcement of the much-anticipated India–U.S. trade deal, which boosted investor confidence and triggered aggressive buying across sectors.

Sentiment was further supported by a sharp decline in international crude oil prices amid easing geopolitical tensions between the U.S. and Iran. Brent crude futures for April fell 5.1% to $65.82 a barrel, while U.S. West Texas Intermediate crude slipped 5.2% to $61.76 per barrel.

In another positive development, Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of RIL, announced the acquisition of a 50.1% equity stake in Sikhya Entertainment Private Limited (SEPL) for an aggregate cash consideration of ₹150 crore. The transaction was carried out through a combination of primary and secondary deals, the company said in a release on Tuesday.

The acquisition will enable Jio Studios, RIL’s media and content arm, to further consolidate its presence in India’s media and entertainment sector and expand the global reach of Indian content.

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