Stock market close highlights: Jio IPO set for 2026; Reliance to double Ebitda by 2027; RIL down 2%

Stock market close highlights, Aug 29: Mukesh Ambani said Jio has surpassed 500 million customers and confirmed a Jio IPO planned for H1 2026

3:57 PM

RIL AGM LIVE Updates: Mukesh Ambani concludes RIL's 48th AGM

3:55 PM

RIL AGM LIVE Updates: Reliance will more than double its Ebitda by the end of 2028, says Mukesh Ambani

RIL 48th AGM LIVE Updates: The best of Reliance is yet to come.

"In 2022, I made a promise that we will double Reliance by the end of our Golden Decade in 2028. At that time, our Ebitda was about ₹1.25 trillion($ 14.6 billion). I reiterate that Reliance will more than double its Ebitda by the end of its Golden Decade," says Mukesh Ambani

3:53 PM

RIL AGM LIVE Updates: Jio to serve 6G network by 2030, says Mukesh Ambani

RIL 48th AGM LIVE Updates: Mukesh Ambani says Reliance Jio's 500 million – and growing – subscribers will move to 5G and eventually 6G by 2030.

>> Reliance Retail has leap-frogged from the Top-100 to the Top-25 global retailers – powered by an unbeatable physical-digital-B2B network that reaches every corner of India in just 5 years.
 

>> Retail will continue to grow in both B2B and B2C spaces with our customer-centric, omni-channel strategy. I can clearly see its revenues grow multi-fold in the coming years:, says Mukesh Ambani

3:49 PM

RIL AGM LIVE Updates: Mukesh Ambani shares 'value creation' roadmap for RIL shareholders

RIL 48th AGM LIVE Updates: Sharing his 'value creation' vision for RIL shareholders, Mukesh Ambani said:

>> I see O2C business achieving substantial growth and delivering stable returns as geopolitical tensions subside.

>> We are well-positioned to produce high-value green fuels and chemicals, which India and the world will need.

>> Our New and Clean Energy business is being built with a singular purpose: to make India self-sufficient in energy, and to resolve India's energy trilemma of security, affordability, and sustainability through world-scale giga manufacturing, through round-the-clock renewable electricity, and through green fuels and chemicals at global scale.

>> I am sure that our New Energy business will be a major driver of growth for many decades, with the potential to become as big as our Oil-to-Chemicals business within the next 5-7 years.

3:49 PM

Stock Market LIVE Updates: 'Markets optimism hinges on progress in trade negotiations'

Stock Market LIVE Updates: "Investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India's exports in some areas. While generally the pressure is also likely to weigh on INR, driving it to depreciation. Equity benchmarks underperformed, with mid- and small-cap segments particularly affected by risk aversion and stretched valuations. In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand. However, the full impact of these on consolidated fiscal in the short term has to be reviewed.

Generally, the market still perceives the tariff-related disruptions as temporary, and optimism hinges on progress in trade negotiations in the future. However, lack of strong interaction between both parties is increasing the uncertainty, adding confusion to the market."

 

Views by: Vinod Nair, head of research, Geojit Investments Limited

3:45 PM

RIL AGM LIVE Updates: Nita Ambani shares target 2035 for Reliance Foundation

RIL 48th AGM LIVE Updates: By 2035, when Reliance Foundation celebrates its Silver Jubilee, it aims to:

>> Reach 400 million Indians

>> Provide quality education to 300 million school going children
 

>> Transform the lives of 100 million women
 

>> Empower 50 million rural households

3:42 PM

Stock Market LIVE Updates: Sectoral markets end broadly in red

Stock Market LIVE Updates: Barring Nifty FMCG, Media, and Consumer Durables, all the other sectoral indices on the NSE settled lower on Friday.

 

3:41 PM

RIL AGM LIVE Updates: Remain committed to helping India host 2036 Olympic Games, says Nita Ambani

RIL 48th AGM LIVE Updates: Reliance Foundation remains deeply committed to helping realise Prime Minister Narendra Modi's dream of hosting the 2036 Olympic and Paralympic Games in India.

As a member of the International Olympic Committee, I am happy to share that we continue to make strong progress towards this mission, says Nita Ambani.

 

3:41 PM

Stock Market LIVE Updates: Rupee ends at record low on tariff worries

Stock Market LIVE Updates: The Indian Rupee closed at a record low of 88.20 against the dollar, a decline of 0.58 paise. The fall in the currency comes as 50 per cent US tariffs pose a risk to India's economic growth and corporate earnings.

3:41 PM

Stock Market LIVE Updates: SMIDs settle lower

Stock Market LIVE Updates: Among the broader markets, Nifty Midcap100, and Nifty Smallcap100 indices settled lower by 0.57 per cent, and 0.39 per cent, respectively.

 

3:38 PM

RIL AGM LIVE Updates: RIL Foundation has reached out to over 23 million children, says Nita Ambani

RIL 48th AGM LIVE Updates: Through our Education and Sports for All programme, we have now reached out to over 23 million children across India, says Nita Ambani.

3:37 PM

Stock Market LIVE Updates: Sensex heatmap

Stock Market LIVE Updates: Here's a glance at the Sensex gainers and losers at the close.

 

3:36 PM

Stock market LIVE Updates: Most Ambani-owned stocks closed higher amid RIL AGM

Stock market LIVE Updates: Most shares of Mukesh Ambani-owned listed companies closed higher in trade on Friday amid Reliance Industries' 48th AGM. The gains were led by Infomedia Press (up 4.8 per cent), Reliance Industrial Infrastructure (up 0.2 per cent), Jio Financial Services (up 0.5 per cent and GTPL Hathway (up 2.1 per cent). Flagship Reliance Industries ended 2 per cent lower. 

3:34 PM

Stock Market LIVE Updates: Nifty settles at 24,426

Stock Market LIVE Updates: The NSE Nifty50 settled at 24,426, lower by 74.05 points or 0.30 per cent.

 

3:34 PM

Stock Market LIVE Updates: Sensex sheds 271 pts

Stock Market LIVE Updates: The BSE Sensex shed 270.92 points or 0.34 per cent to settle at 79,809.65.

 

3:33 PM

RIL AGM LIVE Updates: Reliance shares drop 2%; end at four-month low

RIL AGM LIVE Updates: Shares of Reliance Industries plunged over 2 per cent to end at a four-month low of ₹1,357.2 per share, the lowest level since April 18. The shares took a hit despite plans to list Reliance Jio on the bourses by mid-2026. 

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3:33 PM

RIL AGM LIVE Updates: Anant Ambani shares updates on new energy projects

RIL 48th AGM LIVE Updates: Anant Ambani says:

>> RIL's Solar PV manufacturing platform is operational and has successfully produced first 200 MW of HJT modules. These deliver 10% higher energy yield, 20% better temperature performance, and 25% lower degradation.

>> Anant says, RIL will expand to 10 GWp per annum of fully integrated annual solar PV manufacturing capacity. Then, it will scale further to 20 GWp capacity.

>> RIL's battery giga factory will start in 2026. It will begin with 40 GWh per year capacity and expand modularly to 100 GWh per year. Its electrolyser giga factory will also be operational by end-2026, with the ability to scale up to 3 GW per year.  

>> RIL is developing one of the world's largest single-site solar projects spanning 5,50,000 acres of arid land – three times the size of Singapore -- in Kutch, Gujarat.

>> At peak, RIL will deploy 55 MW of solar modules and 150 MWh of battery containers every day. This will be among the fastest installations globally. This single site could meet nearly 10% of India’s electricity needs within the next decade.

>> This year, RIL will build 55 CBG plants with an annual capacity of 0.5 million tonne. They target to scale up to 500+ CBG plants by 2030.

>> At Jamnagar, RIL has set up the world's largest Bioenergy Technology and R&D Centre.

3:29 PM

RIL AGM LIVE Updates: Will continue to introduce new green fuels, says Anant Ambani

RIL 48th AGM LIVE Updates: Anant Ambani says RIL will continue to expand its network, scale EV infrastructure, and introduce new green fuels, including biofuels and hydrogen.

Jio-bp will play a vital role in powering India's mobility needs, while driving the transition to a cleaner, more sustainable future, says Anant Ambani

3:27 PM

RIL AGM LIVE Updates: RIL's O2C business to invest ₹75,000 crore in new projects, says Anant Ambani

RIL 48th AGM LIVE Updates: Anant Ambani says RIL will invest ₹75,000 crore ($8.8 billion) in new projects, including:

 

>> Nagothane: 1.2 million tonne PVC plant

 

>> Dahej: Expanded CPVC and 3 million tonne PTA facility

 

>> Palghar: 1 million tonne specialty polyester facility

 

3:24 PM

RIL AGM LIVE Updates: RIL reiterates its pledge to become Net Carbon Zero by 2035

RIL 48th AGM LIVE Updates: RIL's Net Carbon Zero commitment is a strategic transformation that positions Reliance advantageously in evolving energy markets, says Anant Ambani.

RIL's efficiency programmes have delivered 10 million gigajoules of energy savings in three years.

Anant Ambani says: Our circular economy initiatives – waste plastic pyrolysis, biomass fuels, hydrogen – make Reliance a leader in sustainable materials. 

3:22 PM

RIL AGM LIVE Updates: Anant Ambani takes stage to share updates on O2C, new energy business

RIL 48th AGM LIVE Updates: Anant Ambani says, RIL's Exploration & Production business contributes nearly 30 per cent of India's natural gas output.

In FY25, E&P delivered a record Ebitda of ₹21,188 crore ($2.5 billion), driven by higher output from both KG-D6 and CBM.

3:19 PM

RIL AGM LIVE Updates: Reliance Consumer eyes Rs 1-trillion revenue mark

RIL 48th AGM LIV Updates: Reliance Consumer aims to be the fastest consumer brands company to reach ₹1 trillion ($11.7 billion) in revenue within 5 years. 

 

Over long-term, RCPL aims to be India's largest FMCG company with a global presence. 

 

"This will make RCPL a big new value-creating engine for Reliance, comparable to our Retail business in size and profitability," says Isha Ambani

3:17 PM

RIL AGM LIVE Updates: Reliance Consumer Product to become a direct subsidiary of RIL, says Isha Ambani

RIL 48th AGM LIVE Updates: In just 3 years, RCPL has achieved what took other companies, decades, says Isha Ambani. 

 

In FY25, Reliance Consumer had revenues of ₹11,500 crore ($1.4 billion), making it the fastest-growing FMCG player in India.

 

Campa Cola now holds double-digit market share across many states, breaking a 30-year MNC duopoly. 

 

RCPL's daily essentials brand, 'Independence', crossed ₹1,000 crore ($117 million) in revenue. 

 

After starting in India, RCPL entered West Asia, Sri Lanka, and Nepal, and is exporting to West Africa. 

 

RCPL aims to enter at least 25 countries in the next 12 months, says Isha Ambani

 

3:12 PM

RIL AGM LIVE Updates: Isha Ambani says Reliance Retails aims to achieve 20%+ CAGR

RIL 48th AGM LIVE Updates: Isha Ambani says RRVL will achieve the 20% CAGR based on is eight growth enablers: 

 

1. Using the unmatched customer insights from scientific data mining from billions of real transactions.

 

2. RRVL product development engine is creating powerful own brands such as Independence in Grocery, Avaasa in Fashion, and Kelvinator in Electronics.

 

3. RRVL has superior sourcing ecosystem.

 

4. RRVL's omni-channel architecture integrates the best of digital and physical retail, maximising customer delight.

 

5. RRVL's unsurpassed market reach of nearly 20,000 stores is supported by India's largest tech-enabled supply chain.

 

6. Isha Ambani says Reliance Retail empowers India's 42 lakh merchants – kiranas, traders, and HoReCa businesses – through our B2B formats Metro and JioMart Digital, giving them access to products, technology, and financing.

 

7. RRVL's tech-led capabilities – from AI-driven demand forecasting to robotics-enabled warehouses – allows the company to scale with precision and efficiency, ensuring profitability even in aggressive growth phases.

 

8. Lastly, Isha Ambani banks on RRVL's employee strength of 2.5 lakh. The employee base, she says, is trained, empowered, motivated, and mandated to deliver.

3:09 PM

Stock Market LIVE Updates: Sensex drops 200 pts; Nifty below 24,500 amid RIL AGM

Stock Market LIVE Updates: The Indian benchmark indices, Nifty and Sensex, lost ground to trade lower on Friday after the heavyweight Reliance Industries stock fell over 2 per cent as its 48th AGM went on. 

3:08 PM

RIL AGM LIVE Updates: Online channels contribute high single-digit share of retail revenues, says Isha Ambani

RIL 48th AGM LIVE Updates: Reliance Retail aims to growth online channels to over 20 per cent within three years.

 

Reliance Retail also leads in hyperlocal quick commerce.

 

Reliance Retail's registered customer base has grown to 349 million, up 15 per cent year-on-year

It processed around 1.4 billion transactions in the year.

3:05 PM

RIL AGM LIVE Updates: Isha Ambani shares insights into Reliance Retail's growth

RIL 48th AGM LIVE Updates: Speaking at the 48th RIL AGM, Isha Ambani, who leads the Reliance Retail vertical, said the business's gross revenue grew 8 per cent to ₹3,30,943 crore ($38.7 billion) in FY25.

 

Its Ebitda rose 8.6 per cent to ₹25,094 crore ($2.9 billion). 

She said: Stores remain the backbone of their retail revenues, contributing around 70 per cent, and will continue to grow through high single-digit like-for-like gains, plus a steady expansion of 2,000–3,000 new stores annually.

3:04 PM

Stock Market LIVE Updates: Reliance shares turn volatile; drop to 4-month low

Stock Market LIVE Updates: Shares of Reliance Industries fell over 2 per cent to ₹1,356.4, the lowest level since April 18. The shares took a hit despite plans to list Reliance Jio on the bourses by mid-2026. This was after the stock surged over 1 per cent soon after the JIO IPO announcement. 

3:02 PM

RIL AGM LIVE Updates: Here's a brief on Reliance Retail's business

RIL 48th AGM LIVE Updates: Reliance Retail is amongst the fastest growing retailers globally, says Mukesh Ambani.

It has grown at a scale and depth that is unparalleled in the world. "Reliance Retail is now ready to write the next chapter of super growth,"he said.

Reliance Consumer Products has achieved a turnover of ₹11,500 crore ($1.4 billion), making it the fastest growing FMCG company ever, says Mukesh Ambani

2:59 PM

RIL AGM LIVE Updates: Mukesh Ambani announces JV with Meta at the 48th AGM

RIL 48th AGM LIVE Updates: Mukesh Ambani, chairman if RIL, announced a new India-focused AI joint venture with Meta. 

 

Ambani said RIL aims to pair the power of open-source AI with Reliance's deep domain knowledge across industries.

 

"We are forming a dedicated joint venture with Meta to combine open models and tools with our execution in Energy, Retail, Telecom, Media, and Manufacturing, and to deliver sovereign, enterprise-ready AI for India," said Mukesh Ambani