Reliance Industries Share Price Today, 28 November 2025: RIL Near 52‑Week High Despite ₹56.44 Crore GST Penalty

Reliance Industries Ltd (RIL) shares traded close to a fresh 52‑week high on Friday, 28 November 2025, extending their recent rally even as the company disclosed a ₹56.44 crore penalty order from the Goods and Services Tax (GST) authorities. The stock remained one of the key movers for the benchmark indices through the morning session. ^[1]

Reliance Industries share price today: key levels and market action

Around 10:30–11:00 am IST, Reliance Industries was changing hands in the ₹1,570–₹1,580 band on both NSE and BSE, up roughly 0.7–1% versus Thursday’s close near ₹1,563. ^[2]

NSE/BSE spot levels: Economic Times, Groww and Business Standard data showed RIL quoted around ₹1,577 per share, with intraday gains just under 1%. ^[3]
Intraday range: The stock has traded roughly between ₹1,563 and ₹1,580 so far today, according to NSE and Moneycontrol data. ^[4]
52‑week high: RIL has hit or flirted with a new 52‑week high around ₹1,580 today; Business Standard and ET’s live pages put the 52‑week high at about ₹1,580–1,581, with the 52‑week low near ₹1,115 (touched in April 2025). ^[5]

A Livemint market update earlier in the day noted that Reliance shares briefly gained nearly 1% to around ₹1,579, described as a record high for the counter in the current adjusted series. ^[6]

On the broader market side, live blogs from Moneycontrol and ET Now flagged Reliance Industries among the major Nifty gainers, alongside names like Mahindra & Mahindra and Tech Mahindra, even as sectoral indices were mixed with oil & gas marginally in the red. ^[7]

Market cap, returns and how RIL stacks up

At today’s levels, Reliance Industries is holding a market capitalisation of roughly ₹21.1–21.3 lakh crore, keeping it at or near the top of India’s market‑cap league table. Business Standard’s live page pegs RIL’s m‑cap near ₹21.30 lakh crore, while other platforms show similar figures. ^[8]

Price performance remains robust:

1‑month return: Around 6%
3‑month return: About 13–14%
1‑year return: Roughly 24%
5‑year return: ET and Mint data suggest gains north of 60% over five years, with Mint citing around 77%. ^[9]

Over the last year, Reliance has comfortably outperformed benchmarks like the Sensex and Nifty, which are up in the high single digits over a similar period. ^[10]

This sustained outperformance helps explain why even modest incremental news — whether positive (AI data centres) or negative (tax penalties) — gets quickly priced in by the market.

₹56.44 crore GST penalty: what happened and why the stock is unfazed

The biggest headline directly tied to RIL today is a ₹56.44 crore penalty order from the GST authorities:

Reliance disclosed that it received an order dated 25 November 2025 from the Joint Commissioner, CGST, Ahmedabad, imposing a penalty of ₹56.44 crore. ^[11]
The order interprets certain input tax credit as “blocked credit”, effectively disallowing the credit claimed by the company. ^[12]
The penalty has been issued under Section 74 of the Central GST Act and the Gujarat GST Act, as per the exchange filing summarised by IANS. ^[13]

Reliance’s response is unequivocal:

The company disagrees with the interpretation, saying the order ignores how the service provider classified the services. ^[14]
RIL has said it intends to file an appeal against the order. ^[15]
Importantly, the company emphasised that “the financial impact of the order is limited to the penalty levied” and that there is no impact on operations or other business activities. ^[16]

To put the penalty in perspective: RIL’s FY25 consolidated profit after tax was about ₹69,648 crore, according to Economic Times financial data. ^[17]

If you divide ₹56.44 crore by ₹69,648 crore, you get roughly 0.08% of annual profit — effectively rounding error at the scale RIL operates. That tiny ratio is a big reason why the market has treated today’s penalty more as a headline risk than a fundamental shock, with the stock trading higher rather than lower after the disclosure. ^[18]

AI data centre mega‑plan: the structural story behind the rally

While today’s session is dominated by penalty chatter, the underlying bull narrative on Reliance is increasingly about AI infrastructure and digital capacity, not just oil‑to‑chemicals or telecom.

Earlier this week, Digital Connexion — RIL’s joint venture with Brookfield and Digital Realty — announced a massive $11 billion investment plan over five years to build a 1 gigawatt (GW) AI‑native data centre campus in Visakhapatnam, Andhra Pradesh. ^[19]

Key details from Livemint’s report on the announcement: ^[20]

The AI data centre campus will be built on about 400 acres in Visakhapatnam.
It is part of a broader $13.5 billion data‑centre investment wave, with Larsen & Toubro (L&T) also announcing around $2.5 billion of data‑centre capex.
Once these projects are executed, Visakhapatnam is projected to host over $26 billion worth of data‑centre capacity by around 2031, potentially exceeding India’s current total data‑centre capacity.

TradingView’s summary of “key facts” around RIL underscores how this AI push is central to the equity story: a $11 billion AI data centre plan, alongside its legacy businesses, is seen as a major growth vector for the coming decade. ^[21]

This dovetails with Chairman Mukesh Ambani’s comments at RIL’s AGM about making heavy investments in AI infrastructure and positions the group as a landlord to cloud and AI workloads, rather than just a consumer of cloud services. ^[22]

For investors, the takeaway is that the “new Reliance” thesis increasingly rests on:

AI‑ready data centres
New‑energy and battery manufacturing
High‑growth consumer and digital businesses (Jio, retail, FMCG)

Today’s price action — resilience in the face of a tax headline — is consistent with that long‑duration growth story dominating short‑term noise.

What brokerages are saying: Jefferies, JPMorgan, UBS, Motilal Oswal

Broker commentary around Reliance has stayed decisively positive into late November, and that tone is feeding into today’s sentiment.

Jefferies: ‘Buy’ with ₹1,785 target

Moneycontrol’s liveblog and TradingView both highlight that Jefferies has reiterated its ‘buy’ rating on Reliance Industries with a target price of ₹1,785, implying roughly 14% upside from current levels. ^[23]

Jefferies’ key arguments, as summarised in those reports, include: ^[24]

All three major engines — Jio, retail and O2C (oil‑to‑chemicals) — are expected to deliver double‑digit growth as FY26 begins.
A potential Jio IPO and telecom tariff hikes are seen as medium‑term catalysts.
The emerging FMCG business and AI data‑centre venture provide additional optionality.
The stock trades below its long‑term mean EV/EBITDA, meaning risk‑reward still looks attractive from their lens.

JPMorgan, UBS, Motilal Oswal: constructive on 2026 and beyond

Earlier this week, Moneycontrol reported that JPMorgan reiterated its ‘overweight’ rating with a target around ₹1,727, noting that: ^[25]

RIL’s earnings drag from weaker refining and petchem appears largely behind it.
The company still trades at a holding‑company discount of roughly 15% versus the sum of its parts.
The brokerage expects potential upgrades on the back of firm refining margins and upcoming catalysts like Jio’s next phase, new‑energy commissioning and a possible Jio IPO.

The same article pointed out that UBS and Motilal Oswal also maintain ‘buy’ ratings with targets in the ₹1,760–₹1,820 zone, citing: ^[26]

Better‑than‑headline refining margins for diesel‑heavy refiners like RIL.
A structurally important battery giga‑factory in Jamnagar, with capacity of 40 GWh initially and scope to scale to 100 GWh.
RIL’s advantages of scale, integration and execution in new energy.

In aggregate, LSEG data cited by Moneycontrol shows the median analyst rating on RIL remains ‘buy’, with a consensus target in the mid‑₹1,600s to high‑₹1,700s, still above today’s price. ^[27]

Important: These are the views of third‑party brokerages and not a recommendation. Investors should rely on their own research or consult a SEBI‑registered adviser.

Fundamentals and valuation snapshot

Different data providers use slightly different calculation bases, but the broad picture on RIL’s valuation today looks like this:

Market cap: Around ₹21.1–21.3 lakh crore ^[28]
Price‑to‑earnings (P/E): Roughly 21–22x trailing earnings on consolidated EPS of about ₹72 per share, per Business Standard and Groww. ^[29]
Price‑to‑book (P/B): About 2.4x book value. ^[30]
Return on equity (ROE): Approximately 9.5% on the latest reported numbers. ^[31]
Dividend yield: Around 0.35%, reflecting RIL’s tilt toward reinvestment over high cash payout. ^[32]
Debt to equity: Near 0.4–0.43x, indicating a moderate but manageable leverage profile for a capital‑intensive conglomerate. ^[33]

On the earnings side, ET’s financials show FY25 consolidated revenue at about ₹9.83 lakh crore with profit after tax near ₹69,648 crore, implying net margins a bit above 7%. ^[34]

Relative to these numbers, today’s share price embeds a premium multiple to the broad Indian market, which is what you’d expect for a company that effectively bundles:

A dominant telecom operator (Jio)
The country’s largest organised retailer
A globally competitive O2C business
New‑energy, AI data centres and batteries as emerging profit pools

Technical view: breakout zone and key levels to watch

The Livemint article on today’s move quoted Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, who argued that: ^[35]

RIL has recently completed a “cup‑and‑handle” breakout, a bullish chart pattern.
The technical structure suggests the uptrend could extend in the near term.
The ₹1,510–₹1,520 band is seen as a strong support zone.
On the upside, the next potential target range cited was ₹1,700–₹1,750.

Even if you ignore the jargon, the chart message is straightforward:

The stock has broken out above previous resistance near its 52‑week highs,
Volumes have been reasonably strong, and
Short‑ to medium‑term trend indicators remain firmly bullish, as also suggested by Moneycontrol’s technical scorecards. ^[36]

Again, this is not a guarantee of future performance — just an interpretation of historical price data.

Key risks and triggers going forward

Despite the upbeat price action, there are real risks and variables investors will have to track:

Regulatory and tax risk:
Today’s GST penalty is financially immaterial, but it shows that large diversified groups remain under close regulatory scrutiny. Future disputes — in GST, telecom, environmental rules or antitrust — could periodically hit sentiment. ^[37]
Capex intensity:
AI data centres, 3GW AI‑energy campuses, battery giga‑factories and new‑energy projects demand huge, long‑dated capex. Even with strong cash generation, there’s a balancing act between debt levels, shareholder payouts and growth capex. ^[38]
Macro and refining margins:
Part of the bullish thesis assumes supportive refining margins and improving O2C economics. A sharp downturn in global fuel margins or petrochemical spreads would compress profitability. ^[39]
Execution on Jio IPO / tariff hikes:
Broker expectations around Jio’s listing, tariff increases, and FMCG scaling are built into many models. Slower‑than‑expected execution on any of these levers would alter the earnings trajectory. ^[40]

On the flip side, successful delivery on the AI data‑centre build‑out, new‑energy ramp‑up and consumer scaling could justify or even expand the present valuation multiples.

Bottom line: why Reliance stock is higher today despite the tax headline

Put together, here’s why the stock is firm on 28 November 2025:

The ₹56.44 crore GST penalty is tiny relative to RIL’s annual profit — under 0.1% of FY25 earnings — and the company is appealing the order while stressing no operational impact. ^[41]
The AI data‑centre and new‑energy narrative remains powerful, with the Digital Connexion JV’s $11 billion Visakhapatnam plan framing Reliance as a core player in India’s AI infrastructure build‑out. ^[42]
Broker sentiment is broadly bullish, with Jefferies, JPMorgan, UBS and Motilal Oswal all carrying ‘buy’ or ‘overweight’ calls and targets above the current price. ^[43]
The technical setup is constructive, with the stock sustaining above previous resistance and analysts flagging higher potential target zones. ^[44]
RIL continues to outperform the benchmark indices over 1‑month, 3‑month and 1‑year periods, reinforcing the “buy‑the‑dip” mindset around the stock for many institutional investors. ^[45]

For now, the market is clearly saying that structural growth in AI, digital and new energy matters more than a mid‑sized tax skirmish, and today’s price action reflects that balance.

Companies owned by Mukesh Ambani #viral #reliance #ambani #mukeshambani #adanigroup #rmtraders #itc