Reliance Industries loses $15 bn market cap in bruising start to 2026

Reliance Industries Ltd (RIL) is off to a bruising start to the year, with shares down more than 6 per cent as investors digest weak retail outlooks and tougher US rhetoric on India’s Russian oil purchases — putting the onus on upcoming earnings to arrest the slide. 

The selloff so far this year has wiped about $15 billion (nearly ₹1.3 trillion) off the company’s market value, making it one of the stock’s worst starts to a year in recent memory and weighing on India’s benchmark equity gauges. Reliance will report quarterly earnings after close of trading on January 16. 

Pressure on the stock intensified this week after several of India’s largest retailers flagged weaker than expected consumer demand, stoking concern that Reliance — a major player in the segment — could face a similar slowdown. Investor sentiment worsened after US senator Lindsey Graham proposed legislation targeting countries that buy Russian oil, pushing the shares’ weekly decline past 7 per cent, the steepest in more than 15 months. Goldman Sachs Group Inc. analysts expect the company’s retail business to report slower growth for the quarter through December but would be offset by a strong growth in energy business. 

 

 

Bharat Coking Coal IPO booked 8x on Day 1 

The initial public offering (IPO) of Bharat Coking Coal, an arm of Coal India, got fully subscribed within minutes of opening for bidding on Friday and later ended the day with 8 times subscription. The category for non-institutional investors got 16.39 times subscription, while the quota for retail individual investors attracted 9.26 times subscription. (PTI)