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Reliance Industries sheds over ₹70,000 crore in market cap post Q1 results
RIL's market capitalisation has declined by ₹72,805 crore to ₹19.26 trillion on the BSE in intra-day trade. The company's market capitalisation stood at ₹19.99 crore on Friday, July 18.
With Monday's decline, RIL has corrected 8 per cent from its current month high of ₹1,551 on July 7, 2025. The stock had hit a 52-week high of ₹1,589.50 on July 19, 2024.
RIL's Q1FY26 consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) declined 2 per cent quarter-on-quarter (Q-o-Q) (+11 per cent year-on-year (Y-o-Y) to ₹42,900 crore, due to weaker performance in Retail and oil-to-chemicals (O2C).
The key positive in Reliance Jio was margin expansion along with 5G adoption progressing well with 210 million (versus 191 million in Q4) subscribers (42 per cent of the overall base) already migrated. The company continues to see 5G as a medium to long-term enabler of higher data usage and APRU driver along with its effort on home broadband, wherein it added 2.6 million subscribers in the quarter through acceleration of JioAirFiber.
The company also has been leveraging UBR (Unlicensed band radio) to deploy fixed wireless access, which will bring scalability to the same. Total fixed subscriber base stood at 20 million, including 7.4 million from JioAirFiber. Key monitorable would be further tariff hike ahead, according to ICICI Securities.
Meanwhile, Motilal Oswal Financial Services reduces its FY26-27 Ebitda by 1-2 per cent and profit after tax (PAT) by 4 per cent each due to broad-based earnings cuts. While Q1 was soft, the brokerage firm remains sanguine on RIL's growth prospects across segments.
However, YES Securities recommend a BUY rating on RIL with a target price of ₹1,640 per share. Expectation of elevated capex levels due to the ongoing 5G rollout, planned petrochemical capacity expansion, and planned foray into renewable energy and acquisitions in retail. However, in the longer run, investments in petrochemical and renewable capacities, along with the 5G rollout, Retail growth, and New energy contribution have the potential to drive revenue growth, the brokerage firm said in a result update.
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Time of India
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- Time of India
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Time of India
an hour ago
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Chhattisgarh now tops GSDP share from mining, leads in forest gain
RAIPUR:Chhattisgarh's mining sector now contributes the highest share to any Indian state's economy -- 9.38% of its gross state domestic product (GSDP). This figure surpasses traditional mining giants like Odisha (9%) and Jharkhand (5.3%), according to the Union ministry of statistics and EY's 2025 sectoral analysis. Tired of too many ads? go ad free now But, experts say, what sets Chhattisgarh apart is not just the economic magnitude of its mining industry. It's the state's defiance of the belief that mining and environmental sustainability can't go hand-in-hand, experts added. Chhattisgarh is extracting value through mining activities while regenerating the green. Mining contributes just about 2.2% to the national GDP. Secretary, mineral resources department of Chhattisgarh, P Dayanand told TOI, 'Of the state's 1.35 crore hectares of geographical area, nearly 44.3% (about 59.8 lakh hectares) is forest. Since 1980, only 28,781 hectares -- around 0.47% of that forest area -- have been diverted for mining that ranges to only 0.21% of the state's total land. And not all of that diversion impacts the ground: The underground mining, which covers 12,783 hectares across 27 mines, leaves the forest canopy untouched. Open cast mining accounts for just 0.26% of the forest area on 16,000 hectares.' 'What distinguishes Chhattisgarh is its phased approach to mining. Rather than mass clearances, only 5% to 6% of trees is felled each year over a mine's 40–50-year lifespan. For instance, at Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVNL) PEKB coal mine in Hasdeo Arand coalfield, about 80–90 hectares are cleared annually while the approval is for 1,900 hectares. This gradual clearance allows ecosystems to adapt and regenerate,' added Dayanand. 'Every rupee earned from mining is being reinvested into our villages, farmers, and future. Tired of too many ads? go ad free now It's a model built on deliberate policy and disciplined execution. We are committed to operationalising our auctioned blocks without compromising our green ethos,' Chhattisgarh CM Vishnu Deo Sai told TOI. In 2025, the state is planting 2.5 crore saplings under the 'Ek Ped Maa Ke Naam' campaign — an area equivalent to 25,000 hectares, CM said. For every hectare of forest diverted, 5 to 10 hectares worth of trees are planted at a rate of 1,100 saplings per hectare. According to India State of Forest Report, Chhattisgarh has registered a net gain of 68,362 hectares in forest cover, the highest among all Indian states. Besides afforestation by forest department, companies like Bhilai Steel Plant, RRVNL, and SECL have also begun reclaiming mined-out areas, handing them back for ecological restoration. BSP has reclaimed 48% of its mined land, RRVNL 28%, and SECL 16%, says data. Chhattisgarh underperforms on revenue realisation Mining sector provides direct employment to about 2 lakh people and indirectly supports another 20 lakh across steel, cement, aluminium, and power sectors. Yet, experts point out that Chhattisgarh is still underperforming on revenue realisation. While mining revenues have grown from Rs 6,110 crore in 2018–19 to Rs 14,000 crore in 2024–25, Odisha saw a fourfold increase in the same period, from Rs 10,499 crore to Rs 45,000 crore — largely due to faster operationalisation of auctioned mineral blocks. 'Chhattisgarh still has work to do. Speeding up mine activation could unlock vital funds for key welfare schemes like Mahtari Vandan Yojana, PMAY, Jal Jeevan Mission, and the Rs 50,000 crore Bodhghat multipurpose dam project,' said an official. Chhattisgarh vs Odisha and Jharkhand: A Revenue Reality Check While Chhattisgarh leads in GDP share, its mineral revenue lags behind Odisha. In FY 2024-25: Odisha's mining revenue: ₹45,000 crore Chhattisgarh's mining revenue: ₹14,000 crore Jharkhand (not detailed in source but generally lower than Odisha)
Economic Times
an hour ago
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