The much-awaited Jio IPO timeline is out. Reliance Industries Chairman Mukesh Ambani said, subject to all approvals, they aim to “list JIo IPO by H1 2026.” However, the RIL shares slipped nearly 2% after an initial spike when the Chairman began speaking. The Jio IPO timeline is one of the most anticipated dates. Then the question is why is the RIL share falling after the indicative timeline.
The RIL share price has outperformed the Nifty so far. The stock is up 14% so far in 2025 as compared to the 5% gains delivered by Nifty so far in 2025.
Why is RIL down? Here’s what analysts have to say
Leading analysts believe that the sudden sharp fall in the RIL share price is more out of disappointment among investors. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments, highlighted that the “RIL stock continued in the last 4-year trend of drifting down in the AGM, completing 5 years of decline on the AGM day. Today the stock declined by a whopping Rs 40 from the peak. It appears that the selling is more technical than driven by fundamentals or disappointments on the expectations front. The big appointments relating to clean energy, AI and global collaborations are positive. Also, the announcement of Jio listing in H1 2026 is positive since it will help in value unlocking. Investors should ignore the temporary volatility in the stock price and focus on the long-term potential, which appears bright.”
According to market expert Deepak Jasani, “Whenever there is an AGM and the management announcements are in line with expectations, we have seen similar share price movement for RIL. The stock fell today as the positives announced are not beyond what the street was expecting. While the H1 2026 deadline is not too disappointing, we must understand that the overall market sentiment is a bit weak today. The Nifty is under pressure, so there is some selling pressure on RIL too. However, I do not rule out a turnaround in the medium-term for the RIL shares if the markets don’t keep eroding.”
Siddarth Bhamre, Head Institutional Research-Asit C. Mehta Investments Intermediates corroborated the views. According to him, “most of the positives with respect to Jio listing plans and other key announcements in the RIL AGM have already been priced in by the market. As a result, we are seeing the share price down in the absence of any big positive surprise.”
Brokerages give a big thumbs up to RIL valuation
Meanwhile, several key brokerages have given a big thumbs up to RIL valuations. They believe that the telecom and retail businesses will help push the business forward.
CLSA on Reliance Industries
CLSA, in a report dated August 22, has rated Reliance Industries as Outperform with a 12-month target price of Rs1,424. They believe that “RIL’s FY25 standalone operating cashflow (OPCF) rose by 5% YoY to $9.4 billion as a big $4.9 bn rise in advances from customers negated a $1.4 billion rise in core working capital and a 22% YoY fall in standalone EBITDA.”
According to them, “the annual report emphasised the scale-up of AI services with connectivity offerings, expanding media offerings and the integration of new energy value chains as key focusses for RIL.”
RIL: The big AI focus
The Chairman, in his speech to RIL shareholders, further reiterated the AI push and said, “While uncertainty surrounds us, breakthroughs in clean energy, genomics, and artificial intelligence will drive growth going forward.”
According to him, “AI is the Kamdhenu of our age; RIL is embedding AI across energy, retail, telecom, and entertainment,” said Reliance Industries CMD Mukesh Ambani.”