Reliance Industries Becomes Largest MTF Exposure After Near-12% One-Day Rally

what happened

According to TradingView, Reliance Industries has become the largest position in the margin trading facility (MTF) book on India's National Stock Exchange. NSE data as of the November 2 close show Reliance exposure rising to ₹4,711 crore, up 60% from October 30. That moved the stock ahead of HDFC Bank, which had held the top spot for many months and now sits second.

Reliance shares climbed nearly 12% on Monday, November 2, after September quarter results beat estimates, driven by the core O2C business. It was the stock's biggest single-day gain since April 2020, and it accounted for 44% of the Nifty 50's rally that started the week. On Tuesday the shares ended 0.6% higher at ₹1,307.9.

All 33 analysts tracking the company now rate it a buy, and the consensus price target implies 21% upside from current levels.

why it matters

For markets, the move shows strong support for India's largest private company after a results beat, with heavy buying and a rising share of delivery trades. A larger margin book also means part of the rally is funded with borrowed money, which can make the stock more volatile. If Reliance holds its roughly 12% gain through November, it would be its best month since April 2025.

market impact

Reliance shares and Nifty 50: strong results support the stock, though part of the rally is leveraged

• ▲Reliance Industries shares pressure up — strong quarterly results and broad buying lifted the stock
• ▲Nifty 50 pressure up — Reliance contributed about 44% of the index's start-of-week rally

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instruments