Having suffered a cumulative loss of over 5% in the last two consecutive sessions, the Reliance share price traded volatile in intraday trade on Wednesday, January 7, amid weak market sentiment. Shares of Mukesh Ambani-led oil-to-telecom-to-retail conglomerate Reliance Industries opened at ₹1,510 against their previous close of ₹1,507.70 and touched their intraday high and low of ₹1,519.95 and ₹1,502.20, respectively. Around 11:15 am, the blue-chip stock was 0.06% down at ₹1,506.85. Equity benchmark Sensex was 0.11% down at 84,972 at that time.
In the previous session on January 6, Reliance shares fell by 4.42%, suffering their biggest single-day fall since June 2024.
The large-cap stock outperformed the Sensex in 2025, surging over 29% compared to a 9% rise in the Sensex last year. It hit an all-time high of ₹1,611.20 on January 5 this year before facing selling pressure.
Shares of the company have seen some profit booking on rising competition in the retail sector, as the retail business is among the conglomerate’s key growth drivers.
Meanwhile, in an exchange filing on January 6, Reliance clarified that “despite the denial by the company of buying of any Russian oil to be delivered in January, a news report was published in Bloomberg claiming ‘three vessels laden with Russian Oil are heading for Reliance Industries Limited’s Jamnagar refinery”. Bloomberg has updated their news report clarifying that Russia Oil Cargo earlier linked to Reliance discharges elsewhere.”
Reliance shares: What should investors do?
Experts appear bullish on the stock for the long term due to the presence of major growth drivers in terms of Jio and Retail, which remain insulated from crude volatility.
Ajit Mishra, SVP of Research at Religare Broking, has a buy call on the Reliance stock with an immediate long-term target price of ₹1,625.
“Short-term fluctuations are possible, especially on news flow. However, we believe any mild corrections could offer a good opportunity to buy the stock. We maintain a buy recommendation and view the dips as an opportunity rather than a risk for long-term investors,” said Mishra.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
