New Delhi: Shares of Mukesh Ambani-led Reliance Industries Limited (RIL) witnessed their sharpest single-day decline in nearly seven months on Tuesday, tumbling over 4% as investor sentiment soured over disruptions in Russian crude supplies and escalating geopolitical pressures.
The stock closed at ₹1,507.60 on the NSE, down 4.5% from the previous session, after hitting an intraday low of ₹1,496.30 — a drop of 5.1%.
This erased nearly Rs 1 lakh crore from the company’s market capitalisation, marking the steepest fall since July 2024.
The trigger stemmed from Reliance’s clarification that it has not received any Russian crude oil shipments for nearly three weeks, with no supplies expected in January. Once India’s largest importer of discounted Russian oil, Reliance had already halted processing such crude in its Jamnagar SEZ refinery from November 2025 to comply with European Union sanctions on fuels exported to Europe and the US.
Adding fuel to the fire were heightened global trade uncertainties, including warnings from US President Donald Trump about potential tariffs on nations continuing to buy Russian oil. These factors, coupled with profit-booking after recent highs, amplified selling pressure in the oil-to-telecom giant’s shares.
Despite the rout, analysts remain optimistic. Most brokerages retain a ‘buy’ rating on RIL, with an average target price around ₹1,685, citing the company’s robust fundamentals and diversified businesses.
As markets grapple with energy geopolitics, all eyes are on how Reliance navigates these headwinds in the coming months.