RIL Q3 Update: Reliance Industries to announce third-quarter results on January 16

Reliance Industries Limited

• Reliance board to review Q3 and 9-month results on Jan 16, 2026.
• Morgan Stanley raises Reliance target price to Rs 1,847, sees 20 percent upside
• All major Reliance segments now cash flow positive, enhancing growth prospects.

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Reliance Industries has informed stock exchanges that its Board of Directors will meet on Friday, January 16, 2026, to consider and approve the company’s financial results for the third quarter.

In a post-market exchange filing on Thursday, January 8, the oil-to-telecom-to-retail conglomerate said the board meeting will take up the “standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2025.”

The company also said it will hold an analyst meet after the board meeting to discuss its financial performance. The post-results interaction will cover both the quarterly numbers as well as the performance for the nine months ended December 31, 2025.

Meanwhile, global brokerage Morgan Stanley has reiterated its positive stance on Reliance Industries Ltd (RIL), maintaining its “Overweight” rating on the stock while increasing its target price.

In its latest note, the brokerage raised the target price on RIL shares to Rs 1,847 from Rs 1,701 earlier, indicating an upside potential of nearly 20 percent from the previous closing price of Rs 1,542.30.

Morgan Stanley expects Reliance to see earnings upgrades and a valuation re-rating through every quarter of 2026. The brokerage said its bullish outlook is supported by three key building blocks, multiple growth catalysts, and nearly USD 50 billion in potential value creation.

According to the note, Reliance is currently in its fourth monetisation cycle, with all major business segments—energy, consumer and telecom—turning free cash flow (FCF) positive. This, Morgan Stanley said, will give the company the flexibility to redeploy capital into new growth opportunities.

The brokerage also pointed out that Reliance has invested over USD 80 billion since the Covid-19 period, and these investments are expected to start delivering returns from 2026 onwards.

Highlighting the refining business, Morgan Stanley said it sees a “golden age” for the segment, with refining margins hovering near USD 14 per barrel—around 1.5 times mid-cycle levels—further strengthening the case for the stock.