RIL shares jump 25% so far in 2025; will the momentum continue? Five things one needs to know

This steady performance is significant as the oil-to-telecom conglomerate delivered negative returns for the first time in 10 years in 2024. Data fetched from Trendlyne show that the RIL stock slipped 5.95% during the 12-month period (from ₹1,292.47 as of December 29, 2023* to ₹1,215.45 as of December 31, 2024).

*December 29 has been considered as it was a Friday. The next two days (Saturday and Sunday), the market was closed.

According to reports, the last time the stock fell was in 2014, with the stock closing at ₹200, with a marginal fall of 0.45%.

RIL restructuring FMCG business

The latest reason behind the interest in shares is the company's restructuring plan for its FMCG businesses. According to a report by The Economic Times, the Mukesh Ambani-led conglomerate is planning to group all its fast-moving consumer goods (FMCG) brands, currently part of its retail ventures, into a new company so they get "specialised and focused attention", besides drawing investors focused on this segment.

The products, according to the report, are currently with Reliance Retail Ventures Ltd (RRVL), Reliance Retail Ltd (RRL) and Reliance Consumer Products Ltd (RCPL).

"The unit that's going to house the FMCG brands is to be called New Reliance Consumer Products Ltd (New RCPL) and will be a direct subsidiary of RIL, much like Jio Platforms Ltd," the report added.

This is being done to simplify the business and unlock value for investors. RIL plans to launch an IPO of its retail arm soon.

Reliance Jio IPO

Investors are in wait-and-watch mode for the initial public offering (IPO) of the company's telecom arm, Reliance Jio. The much-awaited IPO is set to launch in the second half of 2025. Reports say that the IPO could raise around a whopping ₹35,000 crore-₹40,000 crore.

It is expected to be the largest IPO in the history of India, surpassing Hyundai Motor India’s IPO worth ₹27,870 crore ($3.3 billion) in October 2024. Reliance Jio’s IPO would not only break Dalal Street’s records but could also boost investor confidence in India’s equity markets.

The telecom giant is targeting a massive ₹10 lakh crore ($120 billion) valuation. Other IPO specifics like issue size remain under wraps. RIL has not yet released an official statement regarding the IPO.

Media reports suggest that the IPO is likely to include a combination of both a fresh issue and an offer-for-sale (OFS) from the promoters and existing shareholders of the company, with a pre-IPO placement for a closed group of investors.

The IPO could also set the stage for Jio to scale its digital services ecosystem, boost AI-driven technologies and smart devices, and expand its 5G rollout, further strengthening its position in the telecom and tech space.

RIL's solar push a big positive

In April 2025, during the earnings call for Q4 FY25, Reliance Industries said it had commissioned the first production line in its gigawatt-scale solar module manufacturing facility in Gujarat.

The facility has an initial production capacity of 10 GW per year and is being rolled out in phases. The facility will produce 720 Wp heterojunction technology (HJT) modules.

Designed with modularity, the facility allows for expansion up to 20 GW as required.

According to a report by CNBC-TV18 that quoted Nuvama, Reliance Industries has begun external sales of solar modules, which it forecasts could add 6% to profit and unlock a huge valuation upside, comparable to peers such as Waaree Energies and Premier Energies.

Nuvama, according to the report, said that RIL's New Energy rollout could boost profit by over 50%, while also triggering a broader valuation uplift, including for its oil-to-chemicals (O2C) segment, as the company targets net-zero carbon emissions by 2035.

The O2C segment currently contributes two-fifths of EBITDA and more than half of attributable profit, per report.

RIL likely to acquire Nayara Energy

According to a news report by PTI, Russian oil giant PJSC Rosneft Oil Company is in early talks with the Mukesh Ambani-led oil-to-telecom conglomerate for the sale of its 49.13% stake in Nayara Energy, which operates a 20-million-tonnes-a-year oil refinery and 6,750 petrol pumps in India.

The report added that Reliance has held preliminary talks for the acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No. 1 oil refiner as well as give a meaningful presence in the fuel marketing space.

RIL likely to report good numbers in Q1 FY26

Global investment firms Citi and CLSA are positive on the stock. Analysts at CLSA note that the first quarter of FY26 is going to be exciting for Reliance Industries. They expect notable improvements in KPIs across its key businesses.

Citi said that the market’s focus on tariff hikes misses several other structural drivers that provide a long runway for growth for the Indian telecom sector in general and Jio in particular.

“We forecast a 3-year consolidated EBITDA CAGR of 16% for Jio Platforms (JPL), valuing the business at an enterprise value (EV) of $135 billion; the contribution of factors other than tariff hikes to this growth is 6-7% CAGR,” news reports said, quoting Citi.

In an interview with McKinsey & Company's Gautam Kumra, Reliance Industries Chairman and Managing Director, Mukesh Ambani, shared his vision and long-term goals he has set for Reliance Industries. Ambani said that he aims to build Reliance as an institution that will last beyond 100 years with technology and reinvention at its core.

Highlighting the ambition to reinvent Reliance every three to five years, Ambani said, “Even today, we reinvent our business every three, four, or five years in terms of what we do.”