Meta Platforms will lease a 168 MW AI-enabled data center in Jamnagar, India, from Reliance Industries. This partnership deepens Meta's investment in India's economy and AI infrastructure, with Reliance building the facility within two years. The move aligns with India's growing data center industry and Meta's goal of using 100% renewable energy.
Reliance Industries reduced Russian oil imports in April, while German companies urged their government to push China for fair competition. Japan's government announced an extra budget of 3 trillion yen, raising concerns about its already strained finances.
Reliance Industries reduced Russian oil imports in April, while Saudi Arabia advances digital sovereignty with data center investments. Japan's government plans a 3 trillion yen supplementary budget, raising fiscal concerns.
Six of India's top-10 most valued companies saw their market valuation surge by Rs 74,111.57 crore last week. Reliance Industries led the gains, adding over Rs 24,000 crore, while Bharti Airtel and Hindustan Unilever were among the laggards.
Reliance Industries Limited has made history by becoming the first Indian company to achieve over $120 billion in revenue for FY 2025-26, reporting $124 billion. This milestone follows their recent achievement of crossing $10 billion in annual net profit.
The market capitalization of nine of India's top 10 most valued firms fell by Rs 3.12 lakh crore last week, with Reliance Industries experiencing the largest drop. Broader market indices also declined amid geopolitical tensions and rising inflation.
Indian stock markets closed the holiday-shortened week in the green with the BSE Sensex rising 249.29 points (0.32%). The combined market valuation of India's top 10 most valued firms increased by Rs 2.20 lakh crore, driven by Reliance Industries which added Rs 1,39,655.8 crore. However, six of the top-10 firms lost Rs 1.24 lakh crore collectively, with ICICI Bank suffering the sharpest decline of Rs 45,364.62 crore.
Reliance Industries' March quarter results were pressured by its oil-to-chemicals segment, which saw EBITDA decline 4% YoY with margins falling to a nine-quarter low of 7.9% due to West Asia conflict disruptions. Digital and telecom (Jio Platforms) delivered 18% EBITDA growth, while retail posted 3% EBITDA growth. Telecom ARPU rose 4% to ₹214 with 5G subscribers now comprising 54.6% of 524.4 million users. Analysts have cut target price to ₹1,655. The company's 40 GWh GIGA factory is expected operational this year with commercial sales starting FY30.
Reliance Industries relied on diversified crude sourcing and operational agility to navigate volatile energy markets in Q4 FY26 after the Iran war disrupted Persian Gulf oil flows. The company replaced disrupted contracts, diversified suppliers across geographies, and worked on alternative routing for stranded crude to sustain its Jamnagar refinery operations. Global crude was oversupplied through most of FY26, while tight refining capacity and 0.8 million bpd demand growth drove fuel crack rebounds. The company prioritized domestic supplies and optimized logistics to manage costs amid supply chain disruptions.
Indian equity markets experienced a significant downturn, with the top ten most-valued firms losing over Rs 2 lakh crore. Tata Consultancy Services and Reliance Industries bore the brunt of this decline, influenced by geopolitical tensions and weak IT sector commentary. The broader market also saw substantial drops in benchmark indices.
Reliance Industries achieved a record net profit of Rs 95,610 crore in FY26, becoming the first Indian company to surpass $10 billion in annual profit. The Mukesh Ambani-led conglomerate posted an 18% YoY rise in profit after tax, though Q4 saw a 12.6% decline due to weakness in the oil-to-chemicals segment. Consumer businesses Jio and Reliance Retail continued robust growth with retail crossing 20,000 stores.
Reliance Industries reported hyperlocal commerce orders grew over 300% year-on-year in Q4 FY26, with the company operating India's widest hyper-local delivery network across grocery, electronics and fashion. Leveraging over 20,000 stores as fulfillment hubs across 1,200 cities and 5,100 pincodes, Reliance Retail posted annual revenue of ₹3.70 lakh crore (up 11.8%) with EBITDA of ₹27,033 crore. The structural shift from store-led expansion to doorstep fulfillment intensifies competition with quick commerce players like Blinkit and Zepto.
Reliance Industries' Q4 FY26 net profit declined 12.5% year-on-year to Rs 16,971 crore, impacted by the Middle East crisis affecting its oil and chemicals business. Despite this, revenue rose 13% to Rs 2.98 lakh crore, with strong contributions from digital services and retail. Jio Platforms reported a 13% profit increase to Rs 7,935 crore.
Reliance Industries is expected to report mixed Q4FY26 performance with revenue growth of 8%-13% but profitability pressure. Net profit is projected in the range of Rs 16,200 crore to Rs 23,053 crore, with YES Securities forecasting 2% YoY growth while others expect declines of 4.7%-17%. O2C and upstream segments are likely to drag performance while telecom (Jio) and retail will provide support. EBITDA is expected to remain largely stable YoY. RIL will announce earnings on Friday, April 24.
Reliance Industries prepares for Q4 earnings and dividend announcement this week as its stock reels from a 15% correction, wiping Rs 3.37 lakh crore in market cap. Mukesh Ambani has lost his Asia's richest person crown to Gautam Adani, with net worth falling to $91 billion. FII holding has dropped to 18.67% from peak 28.3% in 2021. Analysts remain bullish with JPMorgan maintaining Overweight (target Rs 1,675) and JM Financial maintaining Buy (target Rs 1,730), citing strong digital business growth potential. Jio IPO filing expected in May with $180 billion valuation.
JPMorgan has reiterated its Overweight rating on Reliance Industries with a price target of Rs 1,675 for March 2027, implying upside from the current Rs 1,365. The brokerage notes RIL's fair relative valuation is attractive in a market where most stocks trade above historical valuations, with the holding company discount widened to around 20%. While the oil-to-chemicals business remains uncertain in the near term due to elevated crude premiums and shipping costs, JPMorgan expects improved refining and petrochemical margins in FY27-28, with every $1/bbl increase in GRM driving FY27 EBITDA/EPS by 2%/5%.
Grasim Industries, Bharti Airtel, Nestle India, Maruti Suzuki and HCL Technologies were the biggest Nifty gainers, while losers included Sun Pharma, BPCL, Reliance Industries, MM and Hindalco Industries
