Shares of Reliance Industries Ltd. saw a sudden spike on Friday after Chairman Mukesh Ambani confirmed that Jio is aiming for a public listing by the first half of 2026. However, the rally quickly fizzled out, with the stock closing lower in afternoon trade.
At 2:30 PM, Reliance shares were trading at ₹1,367.20, down 1.35% or ₹18.70 from the previous close of ₹1,385.90. The stock touched an intraday high of ₹1,403.50 before slipping sharply to ₹1,361.20. Reliance’s current market capitalisation stands at ₹18.55 lakh crore, with an average volume of 10.04 million shares on NSE.
Jio IPO in 2026 – Ambani’s announcement
Addressing shareholders at the 48th AGM, Ambani said Reliance is preparing to list Jio by the first half of 2026. He also highlighted Jio’s transformative impact on India’s telecom and digital ecosystem – from making voice calls free to laying the foundation of India’s AI growth through its 5G rollout.
The market had anticipated a timeline for the long-awaited Jio IPO, a move that briefly fuelled optimism among investors. However, profit-booking erased the initial gains, sending the stock lower.
Earlier context
Reliance shares had already been under pressure in the run-up to the AGM, sliding nearly 2% in the past month amid broader market volatility. While the Jio IPO timeline was one of the key highlights, investors are also awaiting clarity on Reliance Retail’s public listing and updates on the company’s clean energy ventures.
