Shares of Reliance Industries touched an 18-month low of ₹1,157 on October 12, 2026, marking a 28% decline from their January peak. The stock is facing a four-day losing streak as investors weigh operational headwinds against the anticipation surrounding the upcoming Jio Platforms IPO.
Reliance Industries (RIL) stock fell to an 18-month low of ₹1,157 during Monday's trading session. This marks the fourth consecutive day of declines for the energy-to-telecom giant, reflecting ongoing selling pressure in the broader market. The stock has now lost approximately 28% of its value since reaching a high of ₹1,611.20 in January 2026, significantly underperforming broader benchmark indices this year.
The recent downward trend is linked to several operational factors. The company has faced margin pressure due to planned maintenance cycles at its refining facilities, rising crude oil premiums, and special additional excise duties. While the refining segment remains a core contributor to revenue, volatility in global energy prices and geopolitical factors continue to influence profitability in the short term.
Investors are also managing uncertainty ahead of the highly anticipated Jio Platforms IPO, which is tentatively scheduled for October 21–23, 2026. The company is expected to raise approximately ₹37,700 crore through this public issue. Large-scale corporate listings often lead to increased market speculation, which can create temporary volatility in the parent company's stock price as investors adjust their portfolios ahead of the event.
On the financial front, the company has actively managed its capital structure. In mid-September, Reliance raised ₹12,000 crore through a private placement of 5-year non-convertible debentures (NCDs) at a coupon rate of 7.47%. This move reflects the company's strategy to secure funding at fixed rates to support its business operations amidst fluctuating market conditions.
The key monitorables for shareholders in the coming weeks will be the final pricing and market response to the Jio Platforms IPO. Additionally, investors will be watching for management commentary on margin trends in the refining and chemicals businesses in the next quarterly financial reports to see if operational headwinds begin to ease.