Share Market Weekly: Why is Reliance Getting Into Explosives?
- Share.Market
- 4 min read
- 22 Aug 2026
Between August 17 and 21, 2026, Indian equity markets faced volatility from crude oil prices and headwinds surrounding SEBI’s newly introduced Closing Auction Session (CAS) for F&O stocks. Benchmark indices rebounded midweek after prolonged pressure, closing Friday on a flat note as the Sensex settled at 77,541 and the Nifty held above 24,200 to finish at 24,252.
Nifty 50 Through The Week
| Monday | 🔻 0.32% |
| Tuesday | 🔻 0.55% |
| Wednesday | 🔻 0.32% |
| Thursday | 🔼 0.64% |
| Friday | 🔼 0.08% |
Sectoral Top Gainers & Losers
| Top Gainers | Top Losers | ||
| Nifty Media | 🔼 2.78% | Nifty IT | 🔻 2.55% |
| Nifty Realty | 🔼 2.45% | Nifty PSU Bank | 🔻 2.24% |
| Nifty Consumer Durables | 🔼 1.14% | Nifty FMCG | 🔻 1.90% |
Markets this week
| Nifty Midcap 150 | 23,407.70 (🔻 0.48%) |
| Nifty Smallcap 250 | 18,414.45 (🔼 0.43%) |
| India VIX | 11.20 (🔻 4.19%) |
Stocks in the Spotlight
Top Gainers
| Name of the Company | Movement |
| Welspun Corp Ltd. | 🔼 22.72% |
| Jyoti CNC Automation Ltd. | 🔼 18.77% |
| Welspun Living Ltd. | 🔼 18.39% |
| Balrampur Chini Mills Ltd. | 🔼 17.70% |
| Aegis Logistics Ltd. | 🔼 13.70% |
Top Losers
| Name of the company | Movement |
| Himadri Speciality Chemical Ltd. | 🔻15.90% |
| NMDC Steel Ltd. | 🔻12.14% |
| Schneider Electric Infrastructure Ltd. | 🔻11.73% |
| Tata Motors Passenger Vehicles Ltd. | 🔻9.07% |
| Belrise Industries Ltd. | 🔻8.90% |
Technical Analysis
Nifty 50
The Nifty 50 index closed the week at 24,252.00, marking a weekly loss of 0.47%.
- Immediate Resistance: 24,800 – 25,000
- Immediate Support: 23,800 – 24,000
Nifty Midcap 150
The Nifty Midcap index closed the week at 23,407.70, marking a weekly loss of 0.48%.
- Immediate Resistance: 23,600-23,800
- Immediate Support: 22,200 – 22,400
Nifty Smallcap 250
The Nifty Smallcap 250 index closed the week at 18,274.75, with a weekly loss of 0.45%.
- Key Support Level: 17,500 – 17,700
- Key Resistance Level: 18,700 – 18,900
This Week’s Spotlight Story
A deep dive into the headline that defined market conversations.
Why is Reliance getting into explosives?
Think of Reliance Industries Ltd. (RIL), and you likely picture Jio, retail outlets, or massive oil refineries. But soon, you will have to add commercial explosives to that list.
On August 20, 2026, RIL shareholders overwhelmingly approved a special resolution to alter the company’s Memorandum of Association (MoA) with 99.9967% votes in favour, as disclosed to BSE and NSE on August 21, 2026. Subject to approval from the Registrar of Companies, newly added sub-clause 14 to Clause III.A expands RIL’s scope to manufacture, process, and distribute ammonia, nitric acid, Technical Grade Ammonium Nitrate (TGAN), ANFO, fertilizers (including UAN and CAN), and civilian, industrial, and defense explosives.
Why step into such a volatile domain? It comes down to three strategic levers:
- Synergy with Jamnagar: RIL’s Jamnagar complex produces vast chemical feedstocks. Converting syngas and hydrogen into ammonia, nitric acid, and ammonium nitrate allows RIL to capture high-margin downstream value from its existing refining and petrochemical assets.
- The Infrastructure & Mining Boom: India’s aggressive expansion in highways, tunneling, and coal mining demands massive quantities of industrial blasting agents. By producing ammonium nitrate fuel oil (ANFO) and emulsion explosives, Reliance directly targets core-sector supply chains.
- Agricultural & Defense Import Substitution: Ammonium nitrate sits right at the intersection of nitrogen fertilizers and military explosives. RIL’s entry supports India’s national push to reduce import dependency across critical defense components and specialty fertilizer feedstocks.
By upgrading basic petrochemical feedstocks into high-value specialty chemicals and industrial explosives, Reliance is executing a calculated vertical integration into India’s core industrial growth story.
