Reliance Industries stock extends losses post AGM but brokerages stay bullish, see up to 29% upside potential

Shares of Reliance Industries (RIL) extended their losing streak on Monday, September 1, slipping a little over 1% to hit the day’s low of ₹1,341.70. This decline followed a 2% drop in the previous session, as investors digested key announcements made at RIL’s 48th Annual General Meeting (AGM) held on Friday.

Despite the short-term correction, analysts remain largely optimistic on the oil-to-telecom conglomerate, citing its roadmap for Jio’s IPO, strong retail growth outlook, and aggressive push into Artificial Intelligence (AI) and new energy ventures as major long-term growth drivers.