Gautam Adani reclaims richest Indian spot from Mukesh Ambani as India's billionaire count hits record: Hurun
Reliance Industries is in focus.
23 Sept 2026 · Economic Times Markets, ET Stocks
Gautam Adani has overtaken Mukesh Ambani to reclaim the top spot on the M3M Hurun India Rich List 2026, with wealth of Rs 9.23 lakh crore. The list now includes a record 391 dollar billionaires, while AI and quantum computing have emerged as new wealth-creation sectors and 70% of entrants are self-made entrepreneurs.
The analysis
Reliance Industries reported Rs 9.23 lakh crore, with movement of 70% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.1% on the day at ₹1,205.20, and has returned -7.5% over three months. It sits 24% below its 52-week high. The oil & energy sector has moved +1.0% over the same period, so Reliance Industries is running 8.5 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy.
In this story
Related coverage
Jio IPO likely by Oct end at enterprise valuation of above ₹12 trillion
Jio IPO GMP latest price today: Grey market premium is rising day by day - Check expected price band
Reliance gets court relief over FSSAI ban on Campa's 'energy drink' label
Jefferies increases weight in Reliance, 2 others; trims weight in 3 stocks in latest model portfolio changes. See list
Reliance Jio IPO: Rs 37,700 crore mega issue, full schedule & 5 must-know details