New Delhi, Aug 14
Reliance Industries Limited's (RIL) shares slipped over 7 per cent in the last 30 days despite firm coverage from top brokerages following the Indian conglomerate's posting of stronger-than-expected earnings in the first quarter of the current financial year (Q1 FY26).
As per market experts, the stock is in a corrective phase as US President Donald Trump’s crackdown on India importing Russian oil exports has come as a major blow to the Mukesh Ambani-led company.
Investors are expected to remain cautious about the stock ahead of its Annual General Meeting (AGM) on August 29.
Market participants will closely watch the management’s commentary on plans to double overall business, updates on the IPO timelines for Jio and Reliance Retail, and growth prospects in the retail segment following the recent reshuffle.
Earlier this week, the Financial Times reported that RIL was one of the biggest gainers of Russian crude purchases.
Petroleum and Natural Gas Minister Hardeep Singh Puri had noted that India's purchases of Russian crude oil have contributed to the stabilisation of energy prices worldwide.