Reliance Stock Hits 2-Month Low - Drops 3%

Read all details>>>

Share price slump

Share price drops 3% to Rs 2,355, pulling Nifty 50 below 20,000 points on Sep 20

High Volume Triggers Fall

Two crore shares change hands, far above the one-month daily average of 73 lakh shares

Impact of Windfall Tax

Government's hike to Rs 10,000 per tonne in windfall tax on domestic crude affects the stock

Pressure from Brent Crude

Surge to $95 per barrel prompts concerns of further windfall gains tax increase

Positive Brokerage Outlook

Despite the dip, Jefferies sees a 6% correction, favorable valuations, and anticipates strong free cash flow in FY25

Long-Term Growth Prospects

Jefferies expects reduced capital intensity, enhancing Reliance's growth potential in telecom and retail