Ambani-Owned Reliance Loses Rs 1.29 Lakh Crore In 9-Day Market Rout
Reliance Industries Limited has witnessed a sharp decline in its share price over the past few days. The group is undergoing a consistent drop over 9 consecutive days, significantly impacting market capitalisation, eroding investor wealth by Rs 1,29,000 crore.
Reliance Industries’ share price declined over 1.5% to reach a 52-week low of Rs 1,270.60 per share in intraday trading on June 8. The company’s market cap has dropped from Rs 18,49,000 crore to Rs 17,10,000 crore amid these developments.
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It is reported that the downturn in Reliance Industries’ shares comes amid rising crude oil prices, largely influenced by the ongoing conflict in West Asia. The situation has affected the company’s refining business, a key profit contributor, which has seen a 3.7% fall in core earnings year-on-year for Q4 FY26.
The company is facing challenges including rising input costs and refining spread uncertainties, affecting investor sentiment, and leading to substantial drop in share price. When oil prices rise sharply, it can raise input costs, weaken demand and as a result, petrochemical spreads may narrow.
