Reliance Industries’ 10-Year Winning Streak: Will It Make History in 2024?

Reliance Industries Limited (RIL) is no stranger to success. As one of India’s largest private sector conglomerates, RIL’s business empire spans petrochemicals, oil refining, upstream oil and gas exploration, retail, digital services, and now, green energy. Its Jamnagar site, boasting a superior Complexity Index of 21.1, ranks among the most complex refining and petrochemical hubs globally, reinforcing its competitive edge.

The consumer-facing businesses, including Reliance Retail Ventures Ltd (RRVL) and Reliance Jio Infocomm Limited (RJIL), have been pivotal growth drivers. While RRVL stands as India’s largest retail entity by revenue, RJIL has cemented itself as the leading telecom service provider. Additionally, RIL’s ventures into green energy signal its commitment to sustainable growth.

A Streak of Success: 10 Consecutive Years?

The year 2024 holds special significance for Reliance Industries shareholders. Alongside a 1:1 bonus share announcement, the stock is on track to record a tenth consecutive year of gains—if it maintains its current year-to-date return of 1.65%.

Here’s how Reliance Industries has performed over the years:

The Golden Period: 2017–2021

The period between 2017 and 2021 was nothing short of spectacular for RIL shareholders. The stock logged double-digit returns for 5 consecutive years, peaking with an extraordinary 70.19% gain in 2017. 

The Slowdown Since 2022

However, since 2022, the momentum has slowed, with returns dipping into the single digits. Despite this, RIL has continued its streak of annual gains.

Will 2024 Hold the Line?

The year 2024’s modest 1.65% gain so far puts the decade-long streak in jeopardy. With just a few weeks left in the year, investors are watching closely. Will the stock maintain its gains, or will volatility in the closing weeks of the year break the streak?

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.