Reliance Shares Dip After Intra-Day Fall

New Delhi, Sep 1 (PTI) Shares of Reliance Industries ended marginally lower on Monday, extending its previous session's decline.

The bellwether stock dropped 1.13 per cent to Rs 1,341.70 during the day on BSE. Later, it recovered most of the lost ground and ended at Rs 1,353.85, reflecting a marginal decline of 0.24 per cent.

At the NSE, the stock dipped 0.24 per cent to settle at Rs 1,353.90 after falling 1.22 per cent to Rs 1,340.60 during the session.

Shares of Reliance Industries Ltd declined over 2 per cent amid profit-taking on the day of its annual general meeting on Friday.

"It appears that the selling is more technical than driven by fundamentals or disappointments on the expectations front. The big announcements relating to clean energy, AI and global collaborations are positive.

"Also, the announcement of Jio listing in H1 2026 is positive since it will help in value unlocking," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Billionaire Mukesh Ambani on Friday unveiled plans to list his group's telecom unit by the first half of 2026, announced partnerships with Meta and Google for developing AI and charted out a roadmap for clean energy as he looked to propel his oil-to-telecom conglomerate into the next phase of growth.

Jio Platforms, an entity that houses Reliance Industries' telecom and digital businesses and is valued at over USD 100 billion, is making all arrangements to file for its initial public offering, he said.

"We are aiming to list Jio by the first half of 2026, subject to all necessary approvals," Ambani, chairman and managing director of Reliance Industries Ltd, said during his annual address to shareholders.