Jio Financial Services, Reliance Industries Shares Fall Up To 2%; Here’s What’s Weighing On The Stocks

Shares of Jio Financial Services and Reliance Industries fell in Wednesday’s trade, despite a strong stock market debut by Jio Platforms. Jio Financial Services dropped more than 1%, while Reliance Industries declined around 2% on 28 October.

Jio Financial Services opened at ₹207.24 on the National Stock Exchange (NSE) before slipping to an intraday low of ₹204.16. Reliance Industries opened at ₹1,195.50 on the Bombay Stock Exchange (BSE), rose to ₹1,204 and then fell to ₹1,175.

The two stocks came under pressure as investors tracked Jio Platforms’ listing and assessed Jio Financial Services’ latest quarterly results. Reliance Industries also remained in focus ahead of its upcoming board meeting.

Jio Platforms Lists At 21% Premium

Jio Platforms made its stock market debut at ₹1,358 per share on both the BSE and NSE, a premium of 21.36% over its issue price of ₹1,119.

The listing put the digital services company among India's most valuable listed businesses, ranking it second by market capitalisation. Following the debut, the combined market capitalisation of Reliance Group's listed companies rose to ₹28.9 lakh crore.

Despite the strong listing, shares of the parent company and Jio Financial Services moved lower during the session. The available figures do not establish a single reason for the declines, though the listing and the latest earnings figures were among the developments investors were tracking.

Jio Financial Services Q2 Results: Profit Falls 51%

Jio Financial Services reported a 51% year-on-year fall in profit after tax to ₹340 crore in Q2 FY27, compared with ₹695 crore in the corresponding quarter last year.

Other operating figures showed stronger growth. Pre-provisioning operating profit rose 85% to ₹574 crore from ₹310 crore a year earlier. Total income more than doubled to ₹1,699 crore from ₹733 crore.

Net interest income also increased sharply, climbing 165% year-on-year to ₹680 crore against ₹257 crore in Q2 FY26.

Reliance Industries Board Meeting On 30 October

Reliance Industries' board is scheduled to meet on Friday, 30 October, 2026, to consider its standalone and consolidated unaudited financial results for the September quarter and the first half of FY27.

The board will also consider raising funds through listed, secured or unsecured redeemable non-convertible debentures on a private placement basis. The proposed issuance may take place in one or more tranches.

Investors will be watching the results and any funding decision for further details on the company's financial performance and capital plans.

Also read - Stock Market Update 28 October 2026: Sensex Bleeds Over 800 Pts; Nifty 50 Slide Below 22,550 In Early Trade