A perfect value bet: how Jio, retail ventures are powering the Reliance Industries stock

Mukesh Ambani, chairman and managing director, Reliance Industries


While petrochemicals and refining form the majority of RIL’s business, it’s retail and Jio that are driving the stock up. Long seen as an old-school refining business, the perception towards RIL is changing. It has the elements of a successful startup – a new digital business, dynamic promoters, and top-tier investors. Can RIL get the valuation of a startup?

In a month to the first week of September, the stock price of Reliance Industries (RIL) rose 13%, compared with a 5% gain by the Nifty. This was on the back of the news that Jio and Airtel have concluded their spectrum-trading agreement for INR1,183.3 crore. Coupled with that was a proposed launch of an ‘ultra-affordable smartphone’ — JioPhone — being jointly developed with Google. However, the phone launch got delayed and the RIL stock came

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