From ₹228 a GB to ₹7.5: How Mukesh Ambani’s Jio rewired India’s internet and is now seeking a ₹10 lakh crore valuation
Reliance Industries is in focus.
· ET Stocks, Economic Times Markets
The company is now asking investors to value it not merely as a telecom operator, but as a broader technology platform spanning 5G, fixed broadband, cloud, entertainment, enterprise services and artificial intelligence.
The analysis
Reliance Industries reported ₹228, ₹7.5 and ₹10 lakh crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
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.
Market context
- In focus: Reliance Industries (Mukesh Ambani) (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries (Mukesh Ambani) -9.9% against Oil & Energy -5.7% (4.2 points behind).
- At least 25% below the 52-week high: Reliance Industries (Mukesh Ambani) (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (Mukesh Ambani)RELIANCE · 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 (Mukesh Ambani)
Telecom & Media
1M -0.2% · 3M +0.9%
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
Related coverage
Jio posts about 14% profit rise in first results since blockbuster debut
No. 2 on Day 1: How Jio Platforms broke India’s market cap hierarchy on debut itself
Jio Platforms shares to be available under MTF from Day 1. What should investors know?
Q2 Results Live: Varun Beverages Q3 Net Profit Rises 14% YoY; Reliance Slips, Sun Pharma Gains Ahead Of Earnings
Reliance Industries Q2 Results 2026 Live: Jio Platforms, RIL to announce Q2 results shortly. Brokerages estimate strong growth