Musk calls for affordable Starlink as Jio IPO nears
Elon Musk said Starlink must offer affordable pricing in India as Jio Platforms approaches its expected IPO. Reliance Industries traded at ₹1,170 on 9 Oct 2026, while futures showed short build-up and a 0.68 put-call ratio.
pre-market1 source ↓machine-written, see hownot a recommendation
- RELIANCE close
- ₹1,170
- On the day
- -0.65%
- Futures OI, short build-up
- +1.5%
- Put-call ratio
- 0.68
- Max pain
- ₹1,210
Elon Musk said Starlink would need affordable pricing in India because consumers would not buy the service if it were too expensive. He argued that competition would give Indian users more choice, while acknowledging that greater competition could reduce Mukesh Ambani’s profits without threatening his business. The comments came days before Jio Platforms, the digital arm of Reliance Industries, is expected to approach what has been described as India’s biggest public offering. 🚀
The remarks put satellite internet and telecom competition in focus. Starlink’s entry could pressure existing digital and connectivity businesses to differentiate through pricing, coverage, service quality and bundled offerings. However, the article did not provide Starlink’s proposed Indian tariff, launch date, subscriber target or regulatory milestones. It also did not disclose the expected size, valuation or timetable of the Jio Platforms IPO, so the direct financial impact cannot be quantified from the available information.
OI Charts data for Reliance Industries on 9 Oct 2026 showed a close of ₹1,170, down 0.65%, with volume of 12,086,708 shares. The stock was down 8.5% over 20 sessions and stood near its 52-week low of ₹1,160, compared with a 52-week high of ₹1,612. In derivatives, futures open interest rose 1.5% in a short build-up, while the futures premium was 0.65%. The put-call ratio was 0.68 and max pain stood at ₹1,210 for the 27 Oct 2026 expiry.
For traders, the current positioning indicates pressure around the stock rather than a confirmed market response to Musk’s comments. The ₹1,250 strike had the largest call open interest, while the ₹1,160 strike had the largest put open interest, creating important levels for the near-term setup. ₹1,160 put wall is the key downside reference, while ₹1,210 max pain and ₹1,250 call open interest mark higher levels to watch into expiry.
The next catalysts are any official update on Starlink’s Indian pricing or approvals, and formal filings or disclosures related to the Jio Platforms IPO. Until those details emerge, the comments remain a competitive and strategic development rather than a quantified earnings event. ⚖️
Source: MillenniumPost, 11 Oct 2026
Not investment advice. For informational purposes only.