Reliance hits ₹3,015 on Jio and retail optimism as bank stocks rally

Reliance Industries touched a one-year high of ₹3,015 driven by sustained optimism in Jio and Reliance Retail. Gains in HDFC Bank and ICICI Bank extended the banking-led Nifty rally ahead of Diwali. Analysts attribute strength to consistent subscriber growth, stable O2C margins, and expectations of stronger festive sales. The stock’s breakout supports the index’s upward bias, though traders watch earnings for confirmation. Reliance’s performance remains pivotal for index momentum through Q2 FY26 as broader liquidity rotates toward large-cap heavyweights.