RIL lags as markets near new highs; investors fret over rising debt

Most analysts expect RIL's capex to remain high in 2023-24 as well, by virtue of the roll-out of the 5G network and the continued expansion of its offline and online retail footprint

Reliance Industries (RIL) was the top-performing index stock on Friday and closed the day with gains of 2.8 per cent, against a 1 per cent rise in the benchmark S&P BSE Sensex during the day.

RIL’s performance on the bourses on Friday was, however, an exception, and the stock has struggled to beat the broader market for nearly two years now. The company’s share price is currently at the same level as in September 2021, while the benchmark index is up 6 per cent in the period.
 

RIL’s share price is down 1.3 per cent since the start of the current