Jio IPO: Valuation looks reasonable against Airtel; analysts say subscribe, flag 5 risks
Reliance Industries flagged a risk in an ipo & listings development.
· Business Today Mkts
Emkay noted that Jio reached 10 crore customers within 180 days of launch and seized 42.67 per cent of India’s broadband customer share within one year.
The analysis
Reliance Industries reported movement of 42.67%. 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.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- In focus: Reliance Industries (Jio) (RELIANCE), in Oil & Energy.
- On the day, 1 of 2 are higher: Bharti Airtel leads at +0.1% and Reliance Industries (Jio) trails at -0.2%.
- Over three months: Reliance Industries (Jio) -9.9% against Oil & Energy -5.7% (4.2 points behind); Bharti Airtel +0.9% against Telecom & Media +0.9% (0.0 points behind).
- At least 25% below the 52-week high: Reliance Industries (Jio) (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (Jio)RELIANCE · Oil & Energy | ₹1,164.90 | -0.2% | -1.9% | -9.9% | -26.8% | 1.0× | — |
| Bharti AirtelBHARTIARTL · Telecom & Media | ₹1,973.70 | +0.1% | +12.3% | +0.9% | -8.7% | 0.8× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries (Jio)
Telecom & Media
1M -0.2% · 3M +0.9%
Bharti Airtel
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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