Reliance Industries, led by Mukesh Ambani, is likely to close 2024 with negative returns for the first time in 10 years. The stock, which holds an 8% weight in the Nifty 50, has fallen 15% in the last three months, pulling the index down by 4.9%. After posting gains of 10.34% in January and 9.44% in June, the stock lost momentum post-August, declining 2.2% in September, 9.8% in October, 3% in November, and 3.9% in December. Investor disappointment over the AGM, slower ARPU growth in telecom, challenges in oil, petrochemicals, and retail restructuring, as well as delays in new energy projects, have hurt performance
