Reliance Industries Defies GST Penalty to Reach New Peak
In a remarkable display of market strength, Reliance Industries Limited saw its share price climb nearly one percent to achieve a fresh all-time high on Friday, reaching an unprecedented ₹1,579.00 per share on the Bombay Stock Exchange. This significant milestone occurred despite the company facing regulatory challenges in the form of a substantial GST penalty.
The GST Controversy Unfolds
The billionaire Mukesh Ambani-led conglomerate revealed it received an order dated November 25, 2025 from the Joint Commissioner of CGST in Ahmedabad, imposing a financial penalty of ₹56.44 crore. According to the company's regulatory filing on November 28, the penalty was levied due to differing interpretations regarding input tax credit classification.
Reliance Industries has strongly contested the GST authority's decision, stating that the order was passed by "interpreting input tax credit falling under blocked credit while ignoring the classification of services by the service provider." The energy-to-telecom giant has confirmed its intention to file an appeal against this order, emphasizing that the financial impact is limited to the penalty amount and does not affect the company's operations or other activities.
Technical Analysis Points to Continued Bullish Trend
Market analysts remain optimistic about Reliance's stock performance despite the regulatory setback. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, highlighted the stock's strong technical positioning, noting that "the recent cup-and-handle breakout reinforces a bullish structure, suggesting the uptrend could extend in the near term."
The technical outlook identifies ₹1,510 – ₹1,520 as a strong support zone, while setting ₹1,700 – ₹1,750 as the next potential upside target range. This positive assessment has encouraged investors to consider fresh entries during price dips.
Sustained Growth Trajectory
Reliance Industries shares have demonstrated impressive performance across multiple timeframes:
- 6% gain in one month
- 14% increase over three months
- 29% rally on a year-to-date basis
- 77% jump over the past five years
By 10:10 AM on Friday, Reliance Industries share price was trading 0.87% higher at ₹1,577.15 on the BSE, maintaining its upward momentum and continuing to lead the broader market strength. The stock's resilience in the face of regulatory challenges underscores investor confidence in the company's fundamental strength and future growth prospects across its diverse business portfolio.
