RIL AGM 2025: Reliance shares open on a flat note, down 1% since last meeting 

Shares of Reliance Industries Ltd (RIL) opened on a flat note ahead of the Mukesh Ambani-led conglomerate's 48th Annual General meeting (AGM) set to be held during market hours today. RIL stock opened marginally lower at Rs 1384. 20 against the previous close of Rs 1387. 65 on BSE. 

RIL's market cap stood at Rs 18.87 lakh crore on BSE today. Total 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 4.85 crore on BSE. 

The stock has fallen 1% since the firm's 47th AGM held on August 29, 2024. RIL shares closed at Rs 1520.43 after the 47th AGM last year. 

The stock has gained 14% or Rs 170 till date. However, RIL shares have slipped 8.54% in a year. The stock has clocked double-digit returns of 31.44% in five years. 

Ahead of the AGM, Hong Kong-based brokerage firm CLSA has maintained its 'Outperform' rating on Reliance Industries, with a price target of Rs 1,650. CLSA cited a major rise in free cash flow and operating cash flow, backed by a $5 billion increase in advances from oil & gas customers.

However, the brokerage is cautious over Reliance's high level of operating expenditure and interest cost capitalisation, which accounts for approximately 33% of its reported profit before tax. Such capitalisation could potentially reduce operating leverage in future years.

JPMorgan is also 'Overweight' on the market heavyweight with a price target of Rs 1,695, citing stronger O2C margins and improved retail growth as key positives. 

The large cap stock is neither oversold nor overbought on charts with its RSI at 43. 

In terms of moving averages, RIL shares are trading higher than the 150 day and 200 day but lower than the 5 day, 10 day, 20 day, 30 day, 50 day and 100 day moving averages.

The stock has a beta of 1.2, indicating high volatility in a year.