More bad news for Starlink? After India, Ukraine controversies, European telcos plan to launch own satellite service
Reliance Industries moved lower.
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Europe’s four largest telecom companies are exploring plans to launch their own satellite mobile services to reduce reliance on Elon Musk’s Starlink amid rising geopolitical tensions. Starlink has also faced controversies involving India and Ukraine.
The analysis
Against that, the stock is -0.8% on the day at ₹1,202.00, and has returned -9.4% over three months. It sits 24% below its 52-week high. The oil & energy sector has moved -3.6% over the same period, so Reliance Industries is running 5.8 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, Telecom & Media.
In this story
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