Reliance shares extend loss to as much as 2.6%

Reliance shares extend loss to as much as 2.6%

Mumbai, July 2, 2025 — Reliance Industries (RIL) shares extended their losses on Thursday, reaching a low of 2.6% in a volatile market. The decline comes amidst escalating tensions between the U.S. and India over tariffs, which have led to a broader sell-off in Indian equity markets. The NSE Nifty and BSE Sensex both experienced significant losses, with the NSE Nifty declining by 0.9% and the BSE Sensex falling by 0.9% [1].

The broader market sentiment remains cautious due to the lack of positive triggers. The banking and IT sectors, particularly, have underperformed, contributing to the overall bearish sentiment. Foreign portfolio investors (FPIs) continued to sell shares, further exacerbating the market's downward trend. On Thursday alone, FPIs sold shares worth a net ₹6,516.5 crore [1].

The focus on Reliance Industries has been on its strategic areas highlighted in the annual report, including AI offerings via Jio, expansion of media and consumer businesses, and integration of new energy value chains. CLSA, a global brokerage house, has retained its Outperform rating on Reliance Industries with a target price of Rs 1,650, implying an upside of 16% from current levels [2]. Key catalysts for the stock include the Jio IPO, AI plans, and FMCG expansion details, which are expected to be discussed at the upcoming AGM [2].

Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, is set to address shareholders at the company's 48th Annual General Meeting (AGM) scheduled for August 29, 2025. The AGM is expected to provide insights into Reliance's future growth plans across digital, retail, and energy businesses [3].

The underperformance in banking stocks is expected to continue, with the Bank Nifty rollover expected to be lower due to recent underperformance. The focus can shift from capex-based sectors to consumption-based sectors like auto and FMCG, which have relatively outperformed and remain under-owned [1].

In summary, the broader market volatility and geopolitical tensions have impacted Reliance shares, extending their losses to as much as 2.6%. Investors are closely watching the upcoming AGM for potential catalysts that could influence the stock's performance.

References:
[1] https://m.economictimes.com/markets/stocks/news/indian-equity-markets-decline-as-tariff-worries-deepen/articleshow/123573350.cms
[2] https://www.financialexpress.com/market/clsa-raises-target-price-for-reliance-industries-jio-ipo-and-3-big-catalysts-to-watch-3960962/
[3] https://www.moneycontrol.com/news/business/reliance-agm-2025-live-updates-ril-annual-general-meeting-live-news-updates-mukesh-ambani-ril-agm-announcements-reliance-jio-liveblog-13498765.html