In the September 2025 quarter, retail investors slightly increased their stake in Reliance to 7.08%, up from 6.92% in the June quarter, according to shareholding data. That means over 42 lakh small investors now collectively own around 94 crore shares of Reliance Industries.
At the same time, mutual funds also boosted their exposure, raising their stake from 9.32% to 9.66%. The move indicates growing domestic conviction in Reliance’s prospects — even though the stock’s performance has been far from stellar lately.
In sharp contrast, foreign institutional investors (FIIs) trimmed their holdings in the company, cutting their stake from 19.21% to 18.65%. The number of foreign investors fell as well — from 2,280 to 2,146 — suggesting that global funds may be taking a more cautious stance toward Indian equities or booking profits after a long rally.
This shifting ownership pattern comes at an intriguing time. Reliance shares slipped about 9% during the July–September quarter and have remained largely flat since. Yet, market indicators still paint a bullish technical picture — the stock continues to trade above all its key moving averages (from 5-day to 200-day), and its Relative Strength Index (RSI) of 67.8 signals steady momentum, just below the overbought mark.
Analysts Still Bullish
Despite recent volatility, analysts remain upbeat about the company’s future. Of the 35 analysts tracking RIL, the consensus rating is a ‘Strong Buy’, with an average price target suggesting about 12% upside from current levels, according to Trendlyne data.
The growing participation of retail and mutual funds — even as FIIs pull back — signals that homegrown confidence in Reliance remains rock-solid. For many Indian investors, Reliance continues to be not just a stock, but a long-term bet on India’s economic story itself.
Price and Valuation:
The stock has delivered a strong performance, rising by over 21% in the past year. It currently trades at a market capitalization of around Rs 20,55,582 crore. Over the last 52 weeks, the share has recorded a high of Rs 1,551 and a low of Rs 1,114, reflecting a broad trading range.
The stock is presently valued at a price-to-earnings (P/E) ratio of 24.76, suggesting that investors are willing to pay about 25 times the company’s earnings per share—an indicator of moderate-to-high valuation levels depending on its growth prospects.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)