Reliance shares performance decoded: From Jio Platforms IPO opening to allotment finalisation, how RIL fared? What next?
Reliance shares' performance decoded: The Jio Platforms IPO was one of the most anticipated public issues of 2026. The public issue was not just pitched as a money-maker for its investors, but for Reliance Industries shareholders as well. The reason for the expected benefit for RIL shareholders was the around two-thirds stake Reliance Industries held in Jio Platforms. The public issue opened on 21 October 2026, and Reliance shares finished at ₹1,202 per share on the previous session in the secondary market. In other words, RIL shares were around ₹1200 when the Jio Platforms IPO hit the Indian primary market. Today, when Jio Platforms IPO allotment has been finalised, the RIL shares are still oscillating around 1200 apiece.
According to stock market experts, Reliance Industries shares are expected to benefit from business unlocking through the Jio Platforms IPO listing. They said that Jio Platforms IPO listing price can be expected in the ₹1350 to ₹1400 range, which means at least 20% premium for the lucky allottees. Experts are highly bullish on Reliance shares after the US Secretary of State Marco Rubio's meeting with Mukesh Ambani. They said that the market is expecting Reliance's entry into the Venezuelan oil refinery market, as Venezuelan crude oil is very thick, like Ural. As the Reliance Nelson index code is attractive 21, the company is expected to get refiner work from Venezuela at a discounted price, a scenario quite similar to Ural oil refinery work coming in from Russia. Experts see Reliance shares to touch ₹1250 to ₹1300 in the near term due to the positive listing (as expected) of the Jio Platforms IPO. However, they predicted around ₹350 to ₹550 upside in Reliance shares by end of FY27 due to the business unlock benefit.
Highlighting the reason for flat trade in the Reliance Industries shares, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, "The secondary market mood is the major reason for the flat trade pattern in Reliance shares. If we look at the fundamentals, the core Reliance Group company owns a two-thirds stake in Jio Platforms, and this business unlock benefit comes to ₹350 to ₹550 per share upside by the end of FY27. So, the fundamentals of the Reliance Industries Ltd suggest RIL share price target of ₹1,550 in the bears' case and ₹1700 in the bulls' case by the end of FY27.
Highlighting the importance of US Secretary of State Marco Rubio's meeting with Mukesh Ambani, Anuj Gupta, a SEBI-registered market expert, said, “The market is expecting a fresh refining order for the company in Venezuela. Currently, the world's total oil exploration capacity is around 100 million barrels per day, and Venezuela is exploring 1 million barrels per day. Following the regime change in Venezuela, the introduction of US technology is expected to increase daily oil production to 2.5 million barrels per day. However, the US don't have that many refiners, who can refine the thick Venezuelan crude oil and its allies in the Middle East are not in condition to refine crude oil due to Iran's attack on their oil refineries.”
On why the US would pick Reliance ahead of the fleet of Oil PSUs in India, Anuj Gupta replied, “For an oil refiner, its Nelson number is very important. In India, Reliance has a Nelson number above 21, placing it in the elite group of oil refiners worldwide. When we look at Oil PSU, its average Nelson number is just above 10. This is also good, but Reliance's Nelson number is excellent.”
Decoding the technical chart of Reliance shares, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “Reliance Industries shares have a strong base formation at the ₹1,145. The stock has broken out above ₹1,200 and is now heading towards the short-term target of ₹1,265. Existing shareholders and fresh buyers can initiate coverage with a strict stop-loss at ₹1,145 for the targets of ₹1,265, ₹1,290 and ₹1,350 in the short-term horizon.”
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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