Reliance Industries Stock Update: Shares Up 1% Amidst Jio Buzz

Reliance Industries (RELIANCE) is witnessing positive momentum in today's trading session, currently standing at a Last Traded Price (LTP) of ₹1,170.00. The stock opened at ₹1,159.00, marking a gap-up from its previous close of ₹1,158.00. Throughout the session, RELIANCE has traded within a range of ₹1,155.60 (low) and ₹1,170.50 (high), reflecting steady buying interest. The scrip is currently up +1.04% for the day, with volume surging to 1,676,349 shares, indicating active participation from traders and investors as it attempts to break higher.

52-Week Context

With the 52-week high and low data currently unavailable, the stock's immediate movement is best assessed in relation to its recent trading patterns and significant corporate developments. Today's upward move suggests a potential recovery from recent pressures and an attempt to consolidate at higher levels, with the intraday high of ₹1,170.50 becoming a point of immediate interest.

Latest Developments

The recent stellar stock market debut of Jio Platforms, a subsidiary of Reliance Industries, has been a major talking point for the conglomerate. Jio Platforms listed on October 28, gaining over 21% on its offer price and propelling Reliance Industries' combined market capitalization past the Tata Group, reclaiming its position as India's largest conglomerate for the first time since October 2020. Jio Platforms' shares closed at ₹1,417.35, a significant premium over its issue price, adding a substantial ₹13.05 lakh crore to the group's valuation. This successful listing has positioned Jio Platforms among the world's most valuable listed telecom companies and India's second most valuable listed company by market capitalization. Analysts are bullish on Jio Platforms, initiating coverage with 'Buy' or 'Accumulate' ratings and forecasting significant upside of 20-28%, citing its market leadership, potential to influence industry tariffs, and strategic focus on emerging technologies like AI and cloud computing.

Despite the subsidiary's strong debut, the parent company, Reliance Industries, had experienced a decline of as much as 2% on October 28. However, today's positive intraday move for RELIANCE indicates renewed buying interest following the initial adjustment post-Jio's listing. Investors are also closely anticipating Reliance Industries' upcoming Q2 FY27 financial results, scheduled to be announced tomorrow, October 30. The company's board will convene to consider and approve these results for the quarter and half-year ended September 30, 2026. Additionally, the board will deliberate on a proposal to raise funds through the issuance of listed, secured or unsecured, redeemable non-convertible debentures (NCDs) via private placement. Brokerage firm Nuvama maintains a 'Buy' rating on RIL, with a target price of ₹1,766, driven by expectations of improved performance from its oil-to-chemicals business and the burgeoning contribution of its New Energy segment. India's broader push for substantial investments in renewable energy, targeting $220 billion by 2030, also bodes well for Reliance's long-term new energy ventures.

Outlook

For the remainder of the session, market participants will be keenly watching for any further developments ahead of tomorrow's crucial Q2 earnings announcement and the decision regarding the NCD fundraise. The stock's ability to sustain above the ₹1,170 level and convert its intraday high into a stronger close will be a key indicator of continued investor confidence.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Oct 29, 2026 09:29 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).