Reliance Industries (NSE: RELIANCE) — Down 2.14%
Tariff Hike Uncertainty: Reliance Industries shares dropped amid reports that Jio’s planned tariff hike may be delayed due to competitive pressure from Airtel’s aggressive 5G pricing. CLSA noted that a delay could impact Jio’s ARPU target of ₹220 for FY27.
Key Catalysts:
- Jio’s 5G subscriber growth slowed to 8M additions in February (vs 12M in November)
- Retail segment (Reliance Retail) showed margin pressure from D-Mart competition
- Brent crude dipped to $72/barrel, slightly positive for refining margins
What to Watch: The AGM scheduled for August could bring clarity on Jio’s financial services spin-off. Promoter holding remains steady at 50.3%, signaling confidence. Support at ₹2,850 level is critical.
