‘Much Appreciated’: Elon Musk responds to Reliance’s statement on Starlink’s India entry
Reliance Industries is in focus in a defence development.
· Business Today Mkts
Elon Musk has responded with “Much appreciated” to Reliance Industries’ defence of India’s regulatory process for Starlink’s proposed entry, after the company said Jio’s satellite services were also awaiting government clearances.
The analysis
Against that, the stock is -0.2% on the day at ₹1,164.90, and has returned -9.9% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.7% over the same period, so Reliance Industries is running 4.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -9.9% against Oil & Energy -5.7% (4.2 points behind).
- At least 25% below the 52-week high: Reliance Industries (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,164.90 | -0.2% | -1.9% | -9.9% | -26.8% | 1.0× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries
Defence & Aerospace
1M -7.5% · 3M -1.7%
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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