Reliance Industries Shares Plunge 5%, Mark Biggest Intraday Fall Since June 4, 2024

Shares of Reliance Industries Limited (RIL) came under pressure after the company issued a clarification denying claims related to Russian crude oil deliveries. 

The stock witnessed a sharp intraday decline, impacting its market capitalisation and weighing on benchmark indices. 

The episode highlights how news flow and geopolitical sensitivities continue to influence market sentiment around large-cap stocks.

RIL Shares See Sharp Intraday Decline

Reliance Industries shares dropped nearly 5% during Tuesday’s session, touching an intraday low of ₹1,497.05 on the BSE. 

This marked the stock’s steepest single-day fall since June 2024. The decline resulted in an erosion of over ₹1 lakh crore in market capitalisation during the trading session, as per The Economic Times report.

Company Denies Report on Russian Crude

The sell-off followed a media report suggesting that vessels carrying Russian crude oil were heading towards Reliance’s Jamnagar refinery. 

The company categorically denied the claims, stating that it had neither received Russian oil cargoes in recent weeks nor expected any such deliveries in January. 

Reliance also expressed concern that its clarification was overlooked.

Impact on Broader Market

Reliance Industries emerged as the largest drag on the Nifty 50 index, contributing significantly to the benchmark’s decline during the session. 

Read More: Dabur Share Price in Focus; Reports Early Signs of Demand Recovery After GST Cut Impact.

Conclusion

The decline in Reliance Industries shares underscores the market’s responsiveness to reports linked to geopolitics and energy supply chains. While the company has denied the claims, investor focus is likely to remain on clarity around sourcing strategies, regulatory developments, and broader market conditions in the near term.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.