Mukesh Ambani-led Reliance Industries (RIL), often seen as a bellwether for the Indian stock market, and a heavyweight on the Benchmark Indices, has hit a rough patch in recent months and the stock is most likely going to end 2024 with negative returns for the first time in 10 years.
One of India’s largest private sector companies, Reliance Industries’ stock over the last three months has significantly underperformed.
Reliance Industries shares – 2024 report card
Let’s take a look at its stock performance, challenges and what is impacting Reliance Industries across its business verticals:
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In the past three months, Reliance Industries with an 8 per cent weight in the Nifty 50 has seen its stock tumble by 15 per cent, dragging the index down by 4.9 per cent.
Over the last five days, the company’s stock declined by Rs 17.85 or 1.39 per cent so far. Analysing the six-month performance, the stock saw a sharper fall of Rs 210.33 or 14.20 per cent as of December 16.
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As 2024 inches close, the stock performance of Reliance Industries in the earlier period of the year posted a 10.34 per cent gain in January and a 9.44 per cent rise in June. Although, the company’s stock reported notable gains in the earlier months but lost momentum post-August.
In September, Reliance Industries stock tumbled 2.2 per cent, followed by 9.8 per cent in October, 3 per cent in November, and 3.9 per cent in December, wiping out the earlier gains of the company. This led the company’s stock to fall by 2.3 per cent so far, marking the first negative annual return since 2014.
The market capitalisation of the company as of now stands at Rs 17.22 lakh crore. Reliance Industries 52-week high and low are Rs 1,608.80 and Rs 1,203.15,
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