Jio effect! Reliance beats Tata to become India's most valued conglomerate
Reliance Industries is in focus in an ipo & listings development.
· Economic Times Markets, ET Stocks, LiveMint Markets
Jio Platforms’ listing has propelled the Reliance Group to become India’s most valuable conglomerate, with a combined market capitalisation of over Rs 28 lakh crore, surpassing the Tata Group. Jio debuted at Rs 1,358, a 21% premium to its IPO price of Rs 1,119, adding over Rs 12.5 lakh crore to Reliance Group’s market value.
The analysis
Reliance Industries reported Rs 28 lakh crore, Rs 1,358, and Rs 1,119,, with movement of 21% 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 -3.2% on the day at ₹1,158.00, and has returned -8.7% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -4.8% over the same period, so Reliance Industries is running 3.9 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.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -8.7% against Oil & Energy -4.8% (3.9 points behind).
- At least 25% below the 52-week high: Reliance Industries (27%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,158.00 | -3.2% | -3.3% | -8.7% | -27.3% | 1.5× | — |
Oil & Energy
1M -4.6% · 3M -4.8%
Reliance Industries
Prices as of 28 Oct 2026, 15:46 IST. Sector moves are the average of the stocks we track in each sector.
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