Surprisingly, most of its gains started around 2018 and the price saw a sudden spike only this year. Read on to find out what steps Reliance took and the factors that contributed to its success.
Reliance entered the 2010s as a formidable player with a few key businesses that were already a force to reckon with. All of its most prominent businesses today; namely, petrochemicals, retail, and telecommunications had their seeds sown between 2010-2015.
The company’s energy division got a boost after forging a partnership with BP to capitalize on the latter’s deepwater exploration capabilities. This move aimed at securing the energy security of India and further cemented Reliance’s reputation as a titan in India’s energy space.
The company had also started working on a 5-year plan to expand its retail operations and went on a spree of establishing retail huge outlets. This strategy of focusing on hypermarkets to drive growth worked well for it in the initial years and culminated in it becoming India’s largest retailer by revenue in 2014.
With the advent of 4G in the Indian market, Reliance made a preemptive move by acquiring Infotel Broadband Services Limited, the only successful bidder for nationwide 4G spectrum auction held by the Indian government. This move allowed it to disrupt the telecommunications market and in acquiring a 33% market share by 2020.