'Jio's own satellites await clearances': RIL issues rebuttal to Musk's Starlink India claims
Reliance Industries is in focus.
· Business Today Mkts
Starlink is operationally ready to begin satellite internet services in India but is still waiting for the remaining government clearances.
The analysis
Against that, the stock is -1.4% on the day at ₹1,198.60, and has returned -6.2% over three months. It sits 25% below its 52-week high. The oil & energy sector has moved -1.7% over the same period, so Reliance Industries is running 4.5 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
Reliance Jio IPO: Apply or not? Should you subscribe to issue after launch or wait for listing? What GMP signals?
Jio IPO: Akash Ambani says Rs 30,213 crore issue will push company towards net debt-free status
Nifty sees best day in 4 months, rally remains confined to largecap stocks
Reliance Industries, BSE lead mutual fund buys in September, shows data
Stocks to watch: Jio Fin, Yes Bank, Wipro, L&T Fin, Angel One, Urban Co