Analysis ahead of Reliance Jio IPO: Bharti Airtel is better or Mukesh Ambani shares? Top value things before bid opens
Reliance Industries is in focus in an ipo & listings development with October 21 in focus.
· LiveMint Markets
Reliance Jio Platforms’ ₹30,213-crore IPO opens October 21, 2026. Motilal Oswal recommends subscribing, citing Jio’s scale, earnings growth, 5G and digital opportunities, and lower valuation than Bharti Airtel. Investors should monitor ARPU growth, returns and digital-services monetisation.
Key facts
- Dates in focus
- October 21
The analysis
Reliance Industries reported ₹30,213. 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.
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- The 3 companies named span 3 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 1 of 3 are higher: Bharti Airtel leads at +0.1% and Motilal Oswal trails at -4.5%.
- Over three months: Reliance Industries -9.9% against Oil & Energy -5.7% (4.2 points behind); Bharti Airtel +0.9% against Telecom & Media +0.9% (0.0 points behind); Motilal Oswal +12.6% against Capital Markets -6.3% (18.9 points ahead).
- At least 25% below the 52-week high: Reliance Industries (27%).
- Trading well above normal today: Motilal Oswal at 2.4 times its 20-day average volume.
| 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× | — |
| Bharti AirtelBHARTIARTL · Telecom & Media | ₹1,973.70 | +0.1% | +12.3% | +0.9% | -8.7% | 0.8× | — |
| Motilal OswalMOTILALOFS · Capital Markets | ₹941.95 | -4.5% | -5.2% | +12.6% | -12.9% | 2.4× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries
Telecom & Media
1M -0.2% · 3M +0.9%
Bharti Airtel
Capital Markets
1M -2.9% · 3M -6.3%
Motilal Oswal
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
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?
After IPO listing, Jio Platforms Q2 results 2026 announced: Check ARPU, profit, revenue, EBITDA, Subscriber Base details
Jio posts about 14% profit rise in first results since blockbuster debut
RIL Q2 preview: Double-digit Ebitda growth seen; fundraising update eyed