Telecom Pressure Mounts: Reliance Falls Ahead of Jio IPO

The Nifty 50’s decline on Thursday was largely driven by a 2.5% slide in Reliance Industries shares. The dip arrived at a critical juncture for the conglomerate, which is gearing up for Jio’s highly anticipated IPO. Elon Musk’s recent accusation that unnamed oligarchs are obstructing Starlink’s Indian entry added to market anxiety, prompting investors to reassess the competitive landscape for broadband and satellite services that Jio plans to leverage for long‑term growth.