Reliance stock sheds 8% in 4 days; erodes ₹2 trn market cap from Jan high

Till 01:46 PM on Thursday; the average trading volumes on RIL counter jumped over two-fold, with a combined 11.79 million equity shares changing hands on the NSE and BSE.

Reliance Industries share price today

 

Shares of Reliance Industries (RIL) continued to trade under pressure, falling 2 per cent to ₹1,469 on the BSE in Thursday’s intra-day trade amid heavy volumes. 

 

In the past four trading days, the stock price of the country’s most-valued company has slipped 8 per cent, and has plunged 9 per cent from its record high of ₹1,611.20 touched on January 5, 2026. A sharp decline in the stock price of RIL's market capitalisation erode by nearly ₹2 trillion.

 

RIL’s market capitalisation hit ₹19.88 trillion in intra-day deals today, losing ₹1.92 trillion from its all-time high level of  ₹21.8 trillion on Monday.

 

 

At 01:46 PM; RIL stock was quoting 2 per cent lower at ₹1,471.90, as compared to 0.72 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over two-fold, with a combined 11.79 million equity shares changing hands on the NSE and BSE.  CATCH STOCK MARKET UPDATES TODAY LIVE

Why RIL share price declined from its record high level?

 

RIL on Tuesday, January 6, 2026, informed the stock exchanges that despite the denial by the company of buying any Russian oil to be delivered in January, a news report was published in Bloomberg claiming ‘three vessels laden with Russian Oil were  headed for Reliance Industries Limited’s Jamnagar refinery”.

 

“In our view, there is no linkage between the movement in price of equity shares of the company and captioned news article,” RIL said.

 

The company further said that Bloomberg has updated their news report clarifying that Russia Oil Cargo earlier linked to Reliance discharges elsewhere.

 

A news report last week claimed that at least three tankers carrying Russian crude oil are indicating RIL’s plant in India’s west coast as their next destination.

 

Meanwhile, analysts' warnings about increased competition in the retail sector, and CLSA's decision to drop Reliance from its portfolio also weighed on sentiment. The institutional brokerage and investment group, in a strategy note on Tuesday, said it is boosting its consumption exposure by adding Eternal and DMart to its India-focus portfolio, and exiting Reliance and Nestle. Concerns about the impact of a weak overall consumption trend, and increasing competition in the retail sector also weighed on sentiment.   ALSO READ | LG Electronics hits record low as 3-month lock-in ends; time to accumulate?

RIL shares outperformed the market

 

However, despite the past three day’s decline, in the past one year, RIL has outperformed the market by surging 16 per cent, as compared to 8 per cent rise in the BSE Sensex.

 

Analysts at JM Financial Institutional Equities maintain ‘BUY’ on RIL (revised target price ₹1,750) given the company's industry-leading capabilities across businesses to drive a robust 15–20 per cent EPS compound annual growth rate (CAGR) over the next three–five years, particularly driven by both consumer businesses with Jio’s average revenue per user (ARPU) expected to expand at 13 per cent CAGR over FY25–28E—with structural uptrend in ARPU given the industry landscape, future investment needs and the need to avoid a duopoly market.

 

Kotak Institutional Equities expect RIL’s consolidated EBITDA to rise by 9.3 per cent year-on-year (YoY) (up 4.3 per cent quarter-on-quarter (QoQ)). The brokerage firm expects segment EBITDA to rise 15/17 per cent for O2C/telecom, lower 4.5 per cent for retail, and decline 15 per cent YoY for E&P.

 

The brokerage firm in the Q3 preview expects EBITDA for digital services to further increase 2.7 per cent QoQ (up 16.5 per cent YoY), driven by marginally higher ARPU/subs, retail to be up 4.5 per cent YoY (up 4.8 per cent QoQ), O2C to increase by 15 per cent YoY (up 10 per cent QoQ) on likely better refining margins and weaker INR and E&P to decline 15 per cent YoY (down 5 per cent QoQ) on lower volumes/realization.  ==============================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.