Reliance Industries Stock Update: Share Price Edges Up on Jio IPO News

Reliance Industries (RELIANCE) is showing marginal gains in Thursday's intraday trading, currently exchanging hands at ₹1,315.50. The conglomerate opened the session at ₹1,313.10, holding firm above its previous close of ₹1,313.10. Intraday activity has seen the stock oscillate within a narrow band, touching a high of ₹1,316.80 and a low of ₹1,310.60, reflecting a modest positive change of +0.18%. Trading volume, at 798,019 shares, remains relatively subdued, indicating a lack of aggressive directional bets from market participants as the session progresses.

Reliance Trades Near 52-Week Low Despite Uptick

In a broader annual perspective, Reliance Industries is trading significantly below its 52-week high of ₹1,611.80, recorded over the past year. The current price of ₹1,315.50 positions the stock much closer to its 52-week low of ₹1,249.80. This indicates that despite today's slight uptick, the scrip has largely underperformed over the longer term, having declined by 5.8% over the past six months and by 5.17% over the last year. The present move is not testing any immediate key annual resistance or support levels, but rather sees the stock consolidating near the lower end of its annual trading range. Stocks To Buy or Sell Today, September 3, 2026: ICICI Bank, Meesho and Pine Labs Among Shares That May Remain in Focus on Thursday.

Reliance Gets Jio IPO Boost After SEBI Approval

The mild positive sentiment around Reliance Industries appears to be largely influenced by recent developments surrounding its digital arm, Jio Platforms. News from earlier this week confirmed that Jio Platforms has received the green light from SEBI for its much-anticipated Initial Public Offering (IPO). This significant corporate announcement, projected to raise between $3.5 billion and $4 billion, marks Reliance Industries' first IPO in nearly two decades. While representing only a minor equity stake, the IPO is expected to help offset loans for Reliance Jio Infocomm, potentially unlocking further value for the parent company.

Adding to the positive undertone, brokerage firm Jefferies recently reiterated a 'Buy' rating on Reliance Industries shares, revising its target price to ₹1,710, implying a substantial upside from current levels. This analyst confidence provides a supportive narrative for the stock. On the operational front for its telecom business, Reliance Jio Infocomm continues to expand its subscriber base, adding 24.5 lakh mobile users in July. However, it trailed Bharti Airtel, which led additions with 26.9 lakh users during the same period, suggesting continued competitive intensity in the telecom sector. Gold Rate Today, September 3, 2026: Check 22K and 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Earlier reports from late August also highlighted Reliance Industries' robust financial performance, with the company reporting a 6.1% year-on-year increase in consolidated net profit for Q1 FY27 to ₹23,196 crore, driven by strong showings across its O2C, Retail, and Digital Services segments.

For the remainder of the trading session, investors will be closely watching for further institutional activity or any fresh updates regarding Jio Platforms' IPO timeline. The stock's ability to hold above the ₹1,310 mark could signal nascent stability after its recent subdued performance.

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 Sep 03, 2026 09:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).