Reliance Industries Stock Update: Shares Hold Steady Amidst Tax Revisions

Reliance Industries (RELIANCE) is witnessing subdued trading activity in today's session, holding steady at ₹1,308.50. The oil-to-telecom conglomerate opened fractionally lower at ₹1,310.00, compared to its previous close of ₹1,308.00. Throughout the intraday period, the stock has traded within a narrow range, reaching a high of ₹1,311.40 and a low of ₹1,305.30. Currently, RELIANCE shows a minimal gain of +0.04%, indicating a largely flat performance. Volume on the counter remains subdued, with only 358,805 shares traded so far, suggesting a lack of strong directional conviction among investors.

Information regarding the 52-week high and low for Reliance Industries is not available in the provided data. Therefore, the stock's current position relative to its annual trading range cannot be precisely determined. However, today's muted movement indicates that the stock is not testing any significant annual resistance or support levels, instead consolidating around its recent trading prices.

The marginal movement in Reliance Industries' share price today comes amidst a few recent developments, though no single catalyst appears to be driving a major shift. A significant policy change from the government, effective July 1, 2026, involves the revision of windfall gains tax. The levy on petrol exports has been hiked, while that on diesel and Aviation Turbine Fuel (ATF) exports has been lowered. This move is generally perceived as positive for export-oriented refiners such as Reliance Industries, as the reduced duties on diesel and ATF are expected to more than offset the increased tax on petrol exports, potentially bolstering the company's Oil-to-Chemicals (O2C) segment margins. Stocks To Buy or Sell Today, July 2, 2026: Larsen & Toubro, UCO Bank, and United Breweries Among Shares That May Remain in Spotlight on Thursday.

Adding to the news flow, Reliance Industries announced the commencement of its Trading Window Close Period from July 1, 2026. This standard regulatory procedure precedes the declaration of financial results for the first quarter ending June 30, 2026, and will remain in effect until 48 hours after the results are made public. The anticipation of these upcoming quarterly results could be contributing to the cautious trading observed. Furthermore, on July 1, 2026, the company also made its routine announcement regarding Polyethylene (PE) prices in the domestic markets of India.

In derivative markets, July 1, 2026, saw notable activity with 2,685 call contracts traded on Reliance Industries at the ₹1,300 strike price, when the stock closed at ₹1,298.50, reflecting short-term directional bets by options traders as the stock approached this key level. While not a fundamental driver, such activity indicates investor sentiment. Analysts maintain a generally positive outlook on the stock, with an average target price of ₹1,666.60 from five brokers, representing a potential upside of over 27% from current levels.

Investors will be keenly watching for any further corporate announcements, particularly ahead of the Q1 FY27 results, which are expected in the coming weeks. The broader market sentiment and global crude oil price movements will also continue to influence Reliance Industries for the remainder of the trading session.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Jul 02, 2026 09:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).