MUMBAI — Reliance Industries gave up 2.1 percentage points of operating margin in the June quarter. Applied to the revenue it actually booked, that is ₹7,179 crore of EBITDA it did not collect in three months, and it is more than the whole of Reliance Retail earned over the same period.
That is the arithmetic sitting underneath a share price that has spent Tuesday morning drifting toward its lowest level in a year, watched by almost nobody.
Reliance was quoted at ₹1,301.00 on the National Stock Exchange at 10:28 IST, down ₹8.80 or 0.67 percent on Monday’s close of ₹1,309.80, and at ₹1,300.55 on the BSE. It opened at ₹1,304.30 and has traded between ₹1,300.00 and ₹1,306.10 on 10.84 lakh shares. These are live intraday figures from a session that settles at 15:30 IST, and none of them is a closing price.
At that price India’s most valuable listed company is 4.10 percent above its 52-week low of ₹1,249.80 and 19.28 percent below its high of ₹1,611.80. The Nifty 50, in which Reliance carries the single largest weight, was down 0.40 percent.
Reliance Share Price Today: Morning Trade on August 25, 2026
| Measure | NSE · RELIANCE | BSE · 500325 |
|---|---|---|
| Last traded price | ₹1,301.00 | ₹1,300.55 |
| Previous close (August 24) | ₹1,309.80 | ₹1,307.50 |
| Change so far | -₹8.80 (-0.67%) | -0.53% |
| Open | ₹1,304.30 | – |
| Session high so far | ₹1,306.10 | – |
| Session low so far | ₹1,300.00 | – |
| Volume so far | 10.84 lakh shares | – |
| 52-week high | ₹1,611.80 (-19.28% from the current price) | |
| 52-week low | ₹1,249.80 (only 4.10% below the current price) | |
| Market capitalisation | ₹17,75,189 crore, at Monday’s close | |
| Trailing P/E · Price to book | 23.8 · 1.96 | |
| Book value per share · Return on equity | ₹668 · 8.91% | |
| Live intraday figures captured at 10:28 IST on August 25, 2026, roughly 73 minutes into a session that runs to 15:30. These are last traded prices, not closing prices, and they will change. Open, high and low for the BSE line were not captured in this run, so those cells are left empty. Valuation ratios and market capitalisation are Screener’s, struck at Monday’s close. | ||
Reliance Industries Stock Code on NSE, BSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | RELIANCE | Series EQ. Nifty 50 constituent, the index’s largest weight |
| BSE (Bombay Stock Exchange) | 500325 | Scrip code. Group A, BSE Sensex constituent |
| ISIN | INE002A01018 | Depository identifier. Face value ₹10 |
| Google Finance | NSE:RELIANCE · BOM:500325 | The exchange-prefixed format Google requires |
| Yahoo Finance | RELIANCE.NS · RELIANCE.BO | Suffix marks the exchange |
| ISIN, scrip code and face value confirmed against the BSE’s company header feed. Reliance is listed only in India; there is no overseas line of stock, so a foreign quote is a data-vendor symbol rather than a separate security. The ₹10 face value is unusual among large Indian companies, most of which have split down to ₹1 or ₹2. | ||
What 2.1 Points of Margin Cost, in Rupees
Reliance reported record EBITDA for the June quarter. It also reported the lowest margin it has run at in some time, and the second fact is worth converting into money because the company does not do it for you.
| Measure | Figure | Basis |
|---|---|---|
| Revenue, quarter ended June 30, 2026 | ₹3,40,257 crore | As reported, up 24.5% |
| EBITDA margin, June 2026 quarter | 15.9% | Calculated from the revenue and EBITDA lines |
| EBITDA margin, June 2025 quarter | 18.0% | Calculated on the same basis |
| EBITDA actually reported | ₹54,067 crore | As reported, up 10.1% |
| EBITDA at the year-earlier margin | ₹61,246 crore | Calculated by The Eastern Herald |
| The difference | ₹7,179 crore | Calculated by The Eastern Herald |
| Reliance Retail EBITDA, same quarter | ₹6,309 crore | As reported, down 1.1% |
| The counterfactual in the fifth row applies last year’s margin to this year’s revenue and is a scale exercise, not a claim about what Reliance could have earned; a fair share of the extra revenue came from lower-margin businesses, so some compression was arithmetically unavoidable rather than a failure of execution. The year-earlier figures exclude a ₹8,924 crore profit on the sale of listed investments, as the company presents them. | ||
The last two rows are the ones to read together. The margin Reliance gave up over twelve months is worth about ₹7,179 crore a quarter. Reliance Retail, a business with more than 19,000 stores and ₹90,408 crore of quarterly revenue, earned ₹6,309 crore. The compression is larger than the division.
None of which means the company is in difficulty. Net debt of ₹1,22,914 crore against EBITDA of ₹54,067 crore is 0.60 times, which is conservative, and capital expenditure of ₹38,682 crore in a single quarter is the real explanation for both the margin and the share price. Reliance is spending 71.5 percent of its operating profit on building things that do not yet earn. The market is declining to pay for that in advance.
The Segment That Pays and the Segment That Does Not
| Segment | EBITDA (₹ cr) | Change | Share of group EBITDA |
|---|---|---|---|
| Digital Services | 21,255 | +16.1% | 39.3% |
| Oil to Chemicals | 17,010 | +17.2% | 31.5% |
| Retail | 6,309 | -1.1% | 11.7% |
| Oil and Gas | 4,973 | -0.5% | 9.2% |
| Others | 4,520 | -7.8% | 8.4% |
| Total | 54,067 | +10.1% | 100.0% |
| Segment EBITDA as printed in the Q1 FY27 analyst presentation of July 17, 2026. Shares of group EBITDA are calculated by The Eastern Herald. Segments do not sum precisely to the consolidated total because of inter-segment eliminations and unallocable items. | |||
Two divisions carried the quarter and three subtracted from it. Oil to Chemicals grew 17.2 percent to a four-year high on what the company described as energy-market dislocation, which is a polite way of saying refining margins are good because the world is disorderly. That is not a condition anyone should underwrite for four quarters, and it is worth noting that Brent was quoted at $92.11 a barrel on Tuesday morning, essentially unchanged from Monday. The tailwind is not adding anything today.
Jio remains the dependable part. Digital Services is now 39.3 percent of group EBITDA, growing 16.1 percent, with more than 533 million subscribers and average revenue per user of ₹215.60.
Reliance Share Price: The Levels for the Rest of the Session
| Level | Price (₹) | What it is |
|---|---|---|
| 52-week high | 1,611.80 | 19.28% above the current price |
| Monday’s close | 1,309.80 | The line between a gain and a loss today |
| Session high so far | 1,306.10 | Below Monday’s close, so the stock has not been green today |
| Current price | 1,301.00 | At 10:28 IST |
| Session low so far | 1,300.00 | The round number has held so far |
| 52-week low | 1,249.80 | 4.10% below the current price |
| Intraday levels are as at 10:28 IST and can extend in either direction. The session low of exactly ₹1,300.00 is the kind of round number that tends to attract orders on both sides, which is worth knowing but is not a prediction. | ||
What this article cannot tell you is when the capital expenditure starts paying. Reliance discloses the quarterly spend but not a segment-level return on the new energy investment, which absorbs a large share of it and has no revenue line of its own in the presentation. Nor has the company said how long retail’s investment phase runs, which is the question the ₹6,309 crore in the table above actually turns on. The stock is four percent above a level it has not traded below in a year, on volume running at roughly half its normal pace, and the session has more than five hours left. Nothing here is a forecast.
Across the rest of the morning, Steel Authority of India had already traded more shares than it manages in an average full day, and HDFC Bank was drifting within two percent of its own 52-week low on similarly thin turnover.
Reliance’s June-quarter figures are drawn from the company’s own analyst presentation of July 17, 2026. Prices, volumes and the 52-week range are from the NSE and the BSE’s own quote feed for scrip 500325, captured at 10:28 IST.
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