Shares of Reliance Industries Ltd (RIL) have slipped around 8 % so far in 2026, extending a recent downtrend as investors await the company’s Q3 FY26 earnings due on Friday, January 16. While the stock rebounded modestly in the latest session, it remains under pressure year-to-date amid mixed sentiment.
What’s Driving the Dip?
• The stock’s recent correction has been attributed to profit-booking after strong historical gains and concerns about exposure to Russian crude oil, which the company has publicly denied.
• Broader market weakness and sector sell-offs, particularly in oil & gas stocks, have also contributed to downward pressure on RIL shares.
Analyst Views Ahead of Q3 Results
• Goldman Sachs recently raised its 12-month price target on RIL and maintained a Buy rating, citing solid refining fundamentals and steady telecom performance that could offset near-term softness in the retail segment.
• Nomura expects RIL’s consolidated EBITDA to rise modestly quarter-on-quarter, driven by gains in the oil-to-chemicals (O2C) segment and resilient performance from Jio, even as retail growth may be muted.
Should Investors Buy Now?
Bullish factors:
- Analysts see medium-term upside, with price targets significantly above current levels, suggesting potential value at lower prices.
- Strong performance in key businesses like refining and telecom could lend support once Q3 results are announced.
Cautions:
- Near-term volatility could persist until earnings are released.
- Retail business softness and external factors like commodity price swings or macro headwinds may weigh on sentiment.
Bottom Line:
The stock’s recent decline may present an opportunity for long-term investors who believe in RIL’s diversified growth prospects, but near-term positioning before earnings can be uncertain and sentiment-driven. Monitoring the Q3 results on January 16 and how key segments perform will be critical before making fresh investment decisions.
