Reliance Industries shares slip 2% amid Jio Platforms IPO listing | Key RIL targets and levels to watch
Reliance Industries shares fell 2% on Wednesday, 28 October, amid investor focus on the stock following the listing of its subsidiary, Jio Platforms, on the stock exchanges.
Jio Platforms, the digital services arm backed by Reliance Industries, made a strong market debut, listing at ₹1,358 per share on both the BSE and NSE. This represented a 21.36% premium over its issue price of ₹1,119, making it the second-most valuable company in India by market capitalisation.
Meanwhile, Reliance Industries shares opened at ₹1,195.50 apiece on the BSE and touched an intraday high of ₹1,204 and a low of ₹1,175.
Following Jio Platforms’ listing, the combined market capitalisation of Reliance Group’s listed companies rose to ₹28.9 lakh crore
The company’s Board of Directors is scheduled to meet on Friday, 30 October 2026, to consider and approve the standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026.
The Board will also consider raising funds through the issuance of listed, secured or unsecured, redeemable non-convertible debentures on a private placement basis, in one or more tranches.
Following the board meeting, the company will hold an analyst meeting to discuss its financial performance for the quarter and half-year ended 30 September 2026.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Reliance Industries remains in a downtrend, trading below key moving averages on both daily and weekly charts. The stock recently rebounded towards its 34-day exponential moving average (EMA) but encountered stiff resistance, leading to a resumption of the downward move.
Shah noted that the negative directional indicator (DI-) remains above the positive directional indicator (DI+) on the Average Directional Index (ADX), signalling continued bearish momentum. He identified ₹1,140– ₹1,150 as the immediate support zone, warning that a decisive and sustained break below this range could extend the weakness. On the upside, the ₹1,210– ₹1,220 zone is likely to act as immediate resistance.
Meanwhile, Ruchit Jain, Head of Equity Technical Research at Motilal Oswal Financial Services, said Reliance Industries is undergoing a consolidation phase, with the stock experiencing a time-based correction. He identified ₹1,100– ₹1,150 as a key positional support zone and said long-term investors could watch for buying opportunities if the stock declines towards this range.
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HomeMarketsStock MarketsReliance Industries shares slip 2% amid Jio Platforms IPO listing | Key RIL targets and levels to watch
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