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Reliance Industries sheds over ₹70,000 crore in market cap post Q1 results
RIL's market capitalisation has declined by ₹72,805 crore to ₹19.26 trillion on the BSE in intra-day trade. The company's market capitalisation stood at ₹19.99 crore on Friday, July 18.
With Monday's decline, RIL has corrected 8 per cent from its current month high of ₹1,551 on July 7, 2025. The stock had hit a 52-week high of ₹1,589.50 on July 19, 2024.
RIL's Q1FY26 consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) declined 2 per cent quarter-on-quarter (Q-o-Q) (+11 per cent year-on-year (Y-o-Y) to ₹42,900 crore, due to weaker performance in Retail and oil-to-chemicals (O2C).
The key positive in Reliance Jio was margin expansion along with 5G adoption progressing well with 210 million (versus 191 million in Q4) subscribers (42 per cent of the overall base) already migrated. The company continues to see 5G as a medium to long-term enabler of higher data usage and APRU driver along with its effort on home broadband, wherein it added 2.6 million subscribers in the quarter through acceleration of JioAirFiber.
The company also has been leveraging UBR (Unlicensed band radio) to deploy fixed wireless access, which will bring scalability to the same. Total fixed subscriber base stood at 20 million, including 7.4 million from JioAirFiber. Key monitorable would be further tariff hike ahead, according to ICICI Securities.
Meanwhile, Motilal Oswal Financial Services reduces its FY26-27 Ebitda by 1-2 per cent and profit after tax (PAT) by 4 per cent each due to broad-based earnings cuts. While Q1 was soft, the brokerage firm remains sanguine on RIL's growth prospects across segments.
However, YES Securities recommend a BUY rating on RIL with a target price of ₹1,640 per share. Expectation of elevated capex levels due to the ongoing 5G rollout, planned petrochemical capacity expansion, and planned foray into renewable energy and acquisitions in retail. However, in the longer run, investments in petrochemical and renewable capacities, along with the 5G rollout, Retail growth, and New energy contribution have the potential to drive revenue growth, the brokerage firm said in a result update.
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