Reliance Industries shares declined as much as 2 percent, reaching an intraday low of 1,267 rupees on Monday, June 8. The drop marked the ninth straight session of losses, driven by a worldwide market slump, heightened tensions in West Asia, and rising oil prices. The company, India’s largest by market value, has fallen 7 percent over the past nine days. This erased 1.29 lakh crore rupees in investor wealth, bringing its market capitalization down to 17.10 lakh crore rupees from 18.49 lakh crore rupees. Year to date, the stock has declined 19 percent, lagging behind the Sensex. The upcoming annual general meeting on June 19 has added to investor caution, with concerns centered on elevated oil prices linked to the West Asia situation. In addition, refining earnings, which account for nearly a third of group EBITDA, dropped 3.7 percent in the fourth quarter of fiscal 2026 compared with the prior year. The company also missed profit estimates due to higher input costs and supply issues.
