Amid Starlink row, Akash Ambani says Jio is making ‘rapid progress’ on indigenous satellite broadband
Reliance Industries is in focus.
· Business Today Mkts
Akash Ambani highlights Jio's focus on delivering home broadband through indigenous satellite technology. The company aims to connect every Indian home, ignoring external competition like Starlink.
The analysis
Against that, the stock is -2.5% on the day at ₹1,177.40, and has returned -7.9% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -0.3% over the same period, so Reliance Industries is running 7.6 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
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