Reliance share price: After the announcement of Q3 results 2025, shares of Reliance Industries Ltd (RIL) witnessed strong buying in the early morning session on Friday. Reliance share price opened upside at ₹1,322.25 apiece on the NSE and touched an intraday high of ₹1,326 per share on the NSE, within a few minutes of the Opening Bell.
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According to stock market experts, the Sensex heavyweight reported record EBITDA and PAT at a consolidated level, which is expected to fuel bulls’ sentiment soon. Reliance Retail delivered a strong performance, with noteworthy contributions from all formats. They suggested a buy-on-dips strategy in Reliance shares and predicted a near-term target of ₹1400 for the RIL share price.
Reliance Q3 results 2025 review
Connecting Reliance share price rally with strong RIL Q3 results, Prathamesh Masdekar, Research Analyst at StoxBox, said, “Reliance Industries has grown exponentially and set new benchmarks demonstrating strength and resilience across all businesses during the quarter. The delivery of record EBITDA and PAT at a consolidated level for this quarter is evidence of this. The performance of the digital services segment has been led by sustained subscriber addition and consistent improvement in customer engagement metrics.
This was well supported by a favourable subscriber mix, with increasing users upgrading to 5G networks. Reliance Retail delivered a strong performance, with noteworthy contributions from all formats. The business capitalized well on the pickup in consumption amid festive demand during the quarter. Continued store expansions and digital initiatives provide long-term growth potential for retail businesses.”
“Further, The O2C business showcased its essential resilience, registering growth even in this prolonged period of volatility in the global energy markets. Refining margins recovered sequentially, with petrochemical deltas exhibiting a mixed trend. The upstream segment continues to play a pivotal role in providing the crucial transition fuel bolstering India’s energy security.
Overall, we believe RIL remains a strong long-term bet, given its scale, diversification, and execution capability. However, near-term stock performance could depend on the pace of recovery in global refining and petrochemical markets, progress in 5G monetization, and rural consumption trends in retail,” the StoxBox expert said.
Predicting big upside in RIL share price after Q3 results 2025, Citi report says, “After subdued performance in recent quarters, Reliance delivered a strong beat in 3QFY25 with the rebound in Retail performance being the key highlight, followed by better O2C performance. 3Q consol. EBITDA at Rs438bn was up 12% qoq (5% ahead). Retail revenue/EBITDA growth rebounded to 7%/9% yoy (vs. -4%/1% in 2Q), which was 14%/12% ahead of our estimates. O2C EBITDA rose 16% qoq (7% ahead). Jio performance was slightly (2%) below estimates. Net debt (flat qoq) and capex (-5% qoq) were largely stable.
Overall, we are enthused by the strong performance in 3Q, esp. in Retail – softness in this segment has been a key drag on stock performance and investor sentiment, which we believe should now reverse. We had upgraded the stock to Buy in Nov (link) and retain our positive view.”
Expecting more upside in RIL shares, Sumeet Bagadia, Executive Director at Choice Broking, said, ‘Reliance share price is an ideal buy-on-dips stock for investors. In the near-term, RIL share price may touch ₹1,400 per share mark, once it breaks above ₹1,350 apiece on a closing basis.”
Citi has also predicted a target of ₹1,530 apiece for the long-term investors.
Emkay also upgraded Reliance shares after Q3 results 2025, saying, “We upgrade RIL to BUY from Add on attractive valuations. RIL’s consol Q3FY25 EBITDA stood at Rs438bn – a 4% beat to our estimate, as Retail/O2C was 10%/6% above our estimate, while Upstream and Jio were largely in-line. Top-line growth of 9% YoY in Retail vs expectations of a marginal decline resulted in better profits amid stable margins. Consol PAT at Rs185bn beat our estimates by 3%, amid higher share of minority interest and lower other income.
Net debt fell 1% QoQ to Rs1.15trn, whereas capex stood at Rs323bn, down 5% QoQ. The management indicated healthy growth in Retail led by festive as well as streamlining, and outlined ongoing downstream expansion projects in O2C as well as margins regressing back to midcycle. We largely retain FY25-27E earnings, while trimming our Sep-25E TP by 6% to Rs1,570 due to 10% cut in Retail multiple. New energy development and vertical monetization are key triggers for the stock.”
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