Reliance Share Price To Be In Focus

Reliance Industries Ltd (RIL) is expected to be in the spotlight on Thursday ahead of its 48th Annual General Meeting (AGM), scheduled for Friday, August 29. Chairman Mukesh Ambani will address around 44 lakh shareholders. Amid global geopolitical concerns and the recent US tariffs on Indian imports, investor expectations from the AGM remain cautious. The new 25% tariff imposed by the US on India for importing Russian crude—something RIL heavily relies on—has become a key concern. Investors are likely to focus on Ambani’s comments regarding crude procurement, potential updates on the much-anticipated Jio IPO, and how the company plans to integrate artificial intelligence across its business segments.

Despite gaining nearly 14% in 2025—well above the Nifty 50’s 4.5% rise—analysts believe RIL’s valuations are still attractive. JPMorgan maintains an ‘Overweight’ rating with a target price of ₹1,695 by September 2026. It notes RIL remains undervalued due to holding company discounts and Reliance Retail trading at a discount to DMart. Key drivers include improving commodity margins, expected telecom tariff hikes, GST rate cuts, and festive demand. RIL’s annual report shows robust operating cash flow growth and steady capital spending, with Jio and Retail contributing significantly to its financial strength.