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flag Reliance Industries sees improved refining margins but faces retail challenges, causing a 22% stock drop since July.

flag Reliance Industries Ltd's refining margins have improved recently, but its retail business faces challenges. flag The company's stock has dropped 22% since July, reflecting retail growth concerns and restructuring issues. flag Reliance's telecom and retail segments make up 50% of its earnings, and the company is expected to generate positive cash flow over the next three years. flag However, the listing of Jio and Reliance Retail may be delayed due to market conditions.

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