Reliance Hits ₹18 Lakh Crore As IT Stocks Continue To Struggle

Reliance Industries has reached another major milestone in the stock market. The company's market capitalisation has climbed to nearly ₹18 lakh crore, bringing it on par with the combined market value of India's five largest IT companies - TCS, Infosys, HCL Technologies, Wipro and Tech Mahindra. The development comes after a difficult year for the IT sector, where slowing demand and concerns around artificial intelligence have weighed heavily on stock prices.

Reliance Industries’ share price had closed at ₹1,304 on 03 July 2026 on the National Stock Exchange.

Why Has The Gap Between Reliance And IT Companies Widened?

The reason behind such a stark divergence in market valuations is primarily that stocks of IT companies corrected sharply during 2026.

Most companies in the technology sector have been impacted by challenges such as client pressure on pricing as they increasingly use AI tools, global economic uncertainties worldwide, and geopolitical tensions. All of this has resulted in less technology spending across the spectrum.

Also, the worsening demand from main foreign markets has taken a toll on the figures, which is why analysts are forecasting that revenues will grow at a slower pace, earnings guidance will be lowered, and profit margins will be under pressure in FY27.

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What Is Driving Investor Confidence In Reliance?

Unlike IT companies that depend heavily on global technology spending, Reliance has built businesses across several sectors over the past decade. Along with its traditional oil-to-chemicals operations, the company now has a strong presence in telecom, retail, green energy and AI infrastructure.

Investors are eyeing the Jio Platforms IPO, which is expected to raise ₹35,000 crore to ₹40,000 crore. The company is expected to use the funds for paying off debt and other corporate purposes, which will provide a further growth catalyst for the company.

Besides this, Reliance has made a substantial announcement about renewable energy projects, gigafactories, and AI infrastructure investments. These investments have given a boost to investor sentiment even though energy markets worldwide continue to be volatile.