RIL share price | Stocks to buy today | Jio Platforms IPO: Shares of Reliance Industries Ltd (RIL) have been under selling pressure ahead of the Jio Platform IPO launch. While it is throwing tantrums at the existing Reliance Industries shareholders, market experts are looking at this dip as an opportunity for the primary market investors to buy Reliance shares at a lower price, which is close to the Jio Platforms IPO price band of ₹1,065 to ₹1,119 apiece, and become eligible for the possible benefit of the value unlocking. However, it is not guaranteed that Jio Platforms shares will be distributed to all RIL shareholders.
Irrespective of this value-unlock factor, experts believe the Jio Platforms IPO is a central factor, though not entirely negative. While news of an upcoming mega public offering usually acts as a catalyst, market sentiment has cooled because recent reports put valuations at approximately $114 billion (~ ₹10.3 lakh crore), lower than earlier speculative estimates of $130 billion to $170 billion. They said Reliance shares are facing a hurdle at the ₹1,200 level. On breaking above this, we can expect the Reliance share price to scale around ₹1265.
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