Reliance Industries’ share price saw a significant decline during its 49th Annual General Meeting on June 19th. The stock opened at ₹1,328 and briefly rose nearly 1% to ₹1,338.20, but later fell 1.6% to an intraday low of ₹1,306.1. This movement indicates that investors remained cautious, even though the company shared several important business updates during the meeting.
The company’s stock has been under pressure for some time, with a consistent decline over different time periods. In the past month, the share price has fallen by more than 1%, while in the past six months it has fallen by approximately 16%. Since the beginning of 2026, the stock has already declined by approximately 17%, reflecting weak market sentiment.
Earlier this year, the stock reached a high of ₹1,611.80 on January 5, 2026, but subsequently fell to a 52-week low of ₹1,253.20 on June 11, 2026. These figures reflect the significant price fluctuations and uncertainty faced by investors regarding the stock.
One of the biggest announcements during the meeting concerned Jio Platforms’ upcoming public offering. The company confirmed that its board had approved draft documents and planned to file them with the market regulator soon. This move brings further clarity to the long-awaited IPO.
The issue will consist of a fresh offering of 27 crore equity shares with a face value of ₹10 each. The final price will be determined through a book-building process, which follows standard regulatory guidelines. This move is expected to unlock value for investors and strengthen the company’s financial position.
Despite the stock decline, Jio’s business performance remained strong. The subscriber base surpassed 524 million in FY26, demonstrating continued user growth. The company also reported a profit of over ₹30,000 crore for the first time, demonstrating its improving financial strength.
Its 5G network has also expanded rapidly, now connecting over 268 million users. During the year alone, the company added 77 million new 5G users. Data usage also increased rapidly, reaching 241 exabytes, a 30.8% increase over the previous year.
Reliance is also focusing on future technologies to expand its reach. The company plans to enter satellite-based broadband services and is also considering developing a low-Earth orbit satellite system. This initiative aims to improve internet access in remote areas across India.
In addition, the company is working to build a robust artificial intelligence platform. In partnership with major global technology firms, it plans to build a large-scale AI ecosystem in Jamnagar. The overall goal is to provide advanced digital services to businesses, government organizations, and consumers, while also achieving long-term growth.
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