Reliance Industries shares flying! Massive Monday jump for RIL stock - 6% surge strong Q2 results | Book profit or wait?

Net profit attributable to the company's shareholders increased 40% YoY to ₹25,548 crore.The company's consolidated revenue rose 27.8% YoY to ₹3,62,268 crore, while EBITDA increased 23.9% to a record ₹62,409 crore. The latest quarterly profit also surpassed the ₹23,196 crore recorded in the previous quarter, marking a fresh high for India's largest listed company by market capitalisation.The oil-to-chemicals (O2C) segment was the biggest contributor to earnings growth, supported by stronger global transportation fuel cracks and an improvement in petrochemical margins.

The segment's EBITDA surged 67.9% YoY to ₹25,203 crore, while revenue climbed 44.2% to ₹2,31,601 crore.Global supply disruptions arising from the West Asia conflict, including tensions surrounding the Strait of Hormuz, as well as attacks on refining infrastructure across the region and Russia, drove fuel cracks to 3-3.7 times their year-ago levels. Meanwhile, the average price of Dated Brent crude stood at $97 per barrel during the quarter, registering a 40.6% YoY increase.The improvement in refining margins came despite geopolitical uncertainties, higher crude premiums and elevated freight costs.

Reliance said its diversified crude procurement strategy and flexibility in optimising product placement helped it capitalise on favourable market conditions. The company also achieved its highest-ever crude processing volumes by increasing supplies from the Americas and the Mediterranean and redirecting exports towards markets offering better net realisations.Reliance Industries share price - Buy, sell or hold?According to Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, Reliance Industries shares are showing good upside potential, with immediate resistance placed at ₹1,220-1,235, followed by ₹1,260.“A sustained breakout above ₹1,260 could open the doors for further upside towards ₹1,300, ₹1,325 and ₹1,360.

Investors can maintain a stop-loss at ₹1,140 to manage downside risk,” Ojha said.Meanwhile, brokerage firm Motilal Oswal has maintained its ‘buy’ rating on RIL stock with a target price of ₹1,520 per share, seeing a further upside potential upto 30%. “We reiterate our BUY rating with a revised TP of INR1,520 (earlier INR1,560).At CMP, we estimate that RIL is currently trading at a ~54% holdco discount on its 64.5% stake in JPL, which we believe is excessive.

The energysegment drives a near-term earnings upgrade; however, we view recovery in RRVL’s growth and profitability as the key driver of RIL’s stock price,” the firm said.