Jio, Airtel add over 5.3 million mobile users in September as India’s subscriber base crosses 1.3 billion
Reliance Industries moved higher.
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The number of wireless mobile subscribers rose from 1,293.43 million at the end of August to 1,300 million by the end of September, marking a monthly growth rate of 0.51%.
The analysis
Reliance Industries reported movement of 0.51%. 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 -0.5% on the day at ₹1,196.20, and has returned -6.5% over three months. It sits 25% below its 52-week high. The oil & energy sector has moved -3.0% over the same period, so Reliance Industries is running 3.5 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
- In focus: Reliance Industries (Jio) (RELIANCE), in Oil & Energy.
- On the day, 1 of 2 are higher: Bharti Airtel leads at +3.2% and Reliance Industries (Jio) trails at -0.5%.
- Over three months: Reliance Industries (Jio) -6.5% against Oil & Energy -3.0% (3.5 points behind); Bharti Airtel +3.9% against Telecom & Media +3.5% (0.4 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (Jio)RELIANCE · Oil & Energy | ₹1,196.20 | -0.5% | -2.4% | -6.5% | -24.9% | 0.9× | — |
| Bharti AirtelBHARTIARTL · Telecom & Media | ₹1,978.80 | +3.2% | +10.8% | +3.9% | -8.5% | 1.5× | — |
Oil & Energy
1M -3.4% · 3M -3.0%
Reliance Industries (Jio)
Telecom & Media
1M +2.3% · 3M +3.5%
Bharti Airtel
Prices as of 27 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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