Kwality Walls shares fall 3% as RIL's foray into ice cream biz raises competition fears

Kwality Walls shares fell as much as 3% to Rs 43 on the BSE on Wednesday, extending their losing streak to seven sessions and taking the total decline to 11%.

The most recent drop comes after Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited (RIL), announced its entry into the ice cream category, with the launch of a new brand, Bombay Creamery, on Monday.

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RCPL said the launch is backed by its national distribution infrastructure, retail scale and consumer insights, signalling a long-term commitment to the category.

The company added that the portfolio is built on the promise of authentic dairy ingredients and a consistent quality experience, in line with its stated positioning of "Global Quality at Affordable Price."

RCPL stated that Bombay Creamery is made with authentic dairy ingredients and positioned as India’s first accessible premium dairy brand.

"We built Bombay Creamery around one simple idea: dairy shouldn't need shortcuts. RCPL is not just entering the ice cream category; we're committing to it. Made with real dairy cream, Bombay Creamery guarantees the promise of the genuine taste of real ice cream every single time, at a price every Indian family can afford," the company said.

The Bombay Creamery range includes ice creams across formats such as cones, cups, tubs, bars and sticks, with prices starting at Rs 10, the company said. The brand will be available immediately in western India, with a pan-India rollout to follow, RCPL added.

The launch marks RCPL's formal entry into India's ice cream market, a segment it has been reported to be exploring since 2023, when the company was said to be in talks with a Gujarat-based manufacturer for a brand tentatively named Independence.

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RCPL is already present in the beverage and FMCG categories through brands such as Campa, its cola brand.

Separately, Vantara, the wildlife conservation initiative under Reliance Foundation led by Anant Ambani, launched its own ice cream brand, Vantara Creamery, in Mumbai in May 2026.

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