Shares of Reliance Industries (RIL) slipped nearly 2% on Friday afternoon, even as Chairman Mukesh Ambani unveiled a series of major announcements at the company's 49th annual general meeting (AGM), including a key update on the much-awaited Jio IPO.
The stock fell as much as 2% to Rs 1,307.40 on the NSE, valuing India's most valuable company at over Rs 17.72 lakh crore.
Jio’s $4 billion IPO
Speaking at the 49th AGM, Mukesh Ambani announced the company's board has approved Jio DRHP and the filing will be later today with the regulator Sebi.
“This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders. The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth," he said.
Read more: Jio IPO: Reliance Jio to file IPO DRHP today, plans fresh issue of up to 27 crore shares
Reliance Retail IPO
Investors are also awaiting greater clarity on the timeline for the Reliance Retail IPO. The retail business has emerged as one of the group's largest growth engines, with Equirus estimating FY26 revenue of Rs 3.71 lakh crore ($44.5 billion).
Read more: RIL AGM strategy: How to trade Reliance shares amid big-bang announcements by Mukesh Ambani?
Commentary on O2C
Beyond consumer-facing businesses and clean energy initiatives, the market will closely track management's outlook on the oil-to-chemicals (O2C) segment. Once the primary driver of Reliance's valuation, the business now accounts for around 22% of the conglomerate's enterprise value and remains an important earnings contributor.
RIL Q4 snapshot
Reliance Industries reported a consolidated net profit of Rs 16,971 crore for the fourth quarter of FY26, down 13% from Rs 19,407 crore recorded in the corresponding period a year ago. Revenue from operations rose 13% year-on-year to Rs 2.98 lakh crore. Compared with the December quarter, net profit declined 8% from Rs 18,645 crore.
Reliance Industries share price
Reliance Industries (RIL) shares have gained more than 1% in one week but declined over 1% in one month and 17% in 2026 so far. The shares of India’s most valuable company have fallen nearly 9% in one year.
In the longer term, the stock gained 3% in three years and 18% in five years.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
