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

Kwality Walls shares experienced a steep 3% decline, plummeting to Rs 43 on the BSE, marking a seven-session losing streak and a cumulative 11% drop. The precipitous fall follows the announcement by Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited (RIL), of its foray into the ice cream market with the launch of Bombay Creamery.

This move, unveiled on Monday, comes with the promise of leveraging RCPL's extensive national distribution infrastructure, retail prowess, and consumer insights, signaling a long-term commitment to the category.

RCPL emphasized that Bombay Creamery is crafted with authentic dairy ingredients and positioned as India's first accessible premium dairy brand. By sticking to the simple idea that dairy should not require shortcuts, the company aims to deliver the genuine taste of real ice cream at an affordable price for every Indian household.

The range includes a variety of ice creams in formats like cones, cups, tubs, bars, and sticks, with prices starting at Rs 10. The brand is set to hit the shelves immediately in western India, with plans for a pan-India rollout.

This strategic move marks RCPL's formal entry into India's competitive ice cream market, a sector it has reportedly been considering since 2023, with discussions reportedly ongoing with a Gujarat-based manufacturer for a potential brand named Independence. Currently, RCPL is well-established in the beverage and FMCG sectors, with brands such as Campa, its cola offering.

Additionally, the wildlife conservation initiative under Reliance Foundation, Vantara, led by Anant Ambani, entered the ice cream market earlier this year by launching its own brand, Vantara Creamery, in Mumbai in May 2026.