Reliance shares dip below Rs 1,300 as analysts remain positive on long-term

Reliance Industries shares briefly slipped below Rs 1,300 on August 17, touching an intraday low of Rs 1,299 on the BSE. The stock traded volatile after the company announced a joint venture with Rolls-Royce to develop an indigenous engine for the Advanced Medium Combat Aircraft programme. By afternoon trade, the stock recovered to Rs 1,318.60, up 0.81%.

On August 14, Reliance and Rolls-Royce said they would explore setting up an Aerospace Gas Turbine Complex in India. The stock has fallen 16% year-to-date, outperforming the Sensex which declined nearly 9%. A 52-week high of Rs 1,611 was on January 5 and a 52-week low of Rs 1,250 on July 24.

Most analysts kept a positive view after the Q1FY27 results announced on July 17. Revenue rose 25.41% year-on-year to Rs 3,11,850 crore, though profit attributable to owners fell 22.4% to Rs 20,946 crore due to a high base effect. Experts cited catalysts such as Jio monetisation, retail scaling, new energy investments and the defence-aerospace partnership as supporting long-term value creation.