Reliance Industries' stock price drops by more than 5% in the past week

29 Sep 2022 , 02:35 PM

In intraday trade on Thursday, shares of Reliance Industries (RIL) plunged to Rs 2,315.55, a  six-month low, after the company’s stock price dropped 7% during the previous week. In contrast, the S&P BSE Sensex fell 4.6% over the same time period.

Currently, the price of RIL is at its lowest point since March 9, 2022. On March 8, the stock had dropped to a 52-week low of Rs2,181. RIL has lost 13% of its value so far in September, compared to a 2.7% loss in the benchmark Sensex index. From its all-time high of Rs2,855, reached on April 29, 2022, it has fallen by 19%. The catastrophe has caused RIL’s market capitalization to decline by Rs3.66 trillion from its all-time high.

RIL is one of India’s major conglomerates with ventures in petrochemicals, organized retail, media, and digital services in addition to oil refining and marketing (Jio). Oil-to-chemical (O2C) and oil & gas generated 49% of the total EBITDA on a consolidated basis in FY22, compared to 10%, 34%, and 7% from retail, digital, and other sources.

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