Jio’s big-bang listing may give it stock market’s No.2 crown after Reliance Industries
Reliance Industries is in focus in an ipo & listings development with October 28 in focus.
· Economic Times Markets, ET Stocks
Jio Platforms could overtake Bharti Airtel to become India’s second-largest listed company after its October 28 debut, with a 22% grey market premium implying a market capitalisation of Rs 12.5 lakh crore. Its Rs 30,213-crore IPO drew 22.2 times subscription, while brokerages highlighted growth opportunities in broadband, enterprise technology and AI.
Key facts
- Dates in focus
- October 28
The analysis
Reliance Industries reported Rs 12.5 lakh crore and Rs 30,213, with movement of 22% 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 -0.8% on the day at ₹1,192.50, and has returned -6.0% over three months. It sits 25% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -3.7% over the same period, so Reliance Industries is running 2.3 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.
- On the day, 1 of 2 are higher: Bharti Airtel leads at +2.5% and Reliance Industries trails at -0.8%.
- Over three months: Reliance Industries -6.0% against Oil & Energy -3.7% (2.3 points behind); Bharti Airtel +1.0% against Telecom & Media +1.0% (0.0 points ahead).
- At least 25% below the 52-week high: Reliance Industries (25%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,192.50 | -0.8% | -2.0% | -6.0% | -25.1% | 0.5× | — |
| Bharti AirtelBHARTIARTL · Telecom & Media | ₹1,965.80 | +2.5% | +7.4% | +1.0% | -9.1% | 1.1× | — |
Oil & Energy
1M -3.8% · 3M -3.7%
Reliance Industries
Telecom & Media
1M -0.7% · 3M +1.0%
Bharti Airtel
Prices as of 27 Oct 2026, 13:45 IST. Sector moves are the average of the stocks we track in each sector.
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