Why did Reliance Industries share crash by 5% today?

SYNOPSIS: Reliance Industries shares fell after the company denied reports of receiving Russian crude, calling them untrue, which unsettled investors and weighed on market sentiment despite clarifications.

During Tuesday’s trading session, shares of Reliance Industries Limited have fallen by over 5 percent to hit an intraday low at Rs. 1,497.05 on BSE. The stock underperformed the broader market and emerged as one of the biggest drags on benchmark indices amid weak sentiment on Dalal Street. So, what triggered this sharp decline? Let’s break it down in this article.

At 10:51 a.m., shares of Reliance Industries Limited were trading in the red at Rs. 1,520.4 on BSE, down by 3.6 percent, compared to its previous closing price of Rs. 1,577.45, with a market cap of Rs. 20.57 lakh crores. The stock has delivered positive returns of around 22 percent in one year, but has fallen by over 1 percent in the last one month.

What’s the News

So, what exactly happened – and why did the stock come under pressure? A few days back, a Bloomberg report suggested that three tankers carrying Russian crude oil were heading to Reliance’s Jamnagar refinery in Gujarat. The news quickly caught investors’ attention, as such a potential development could have implications for crude sourcing and refinery margins.

However, the narrative changed today. Reliance took to X with an official clarification, calling the report “blatantly untrue” and expressing concern that it had harmed the company’s reputation. The company clarified that its Jamnagar refinery has not received any Russian crude for nearly three weeks and does not expect any such deliveries in January 2026. Reliance also said it was disappointed that its denial was not considered before the report was published.

Reliance Industries Limited is engaged in the business activities spanning across hydrocarbon exploration and production, oil to chemicals, retail and digital services.

RIL’s Jamnagar refinery is the largest and most complex single-site refinery in the world, with a crude processing capacity of 1.4 million barrels per day and a complexity index of 21.1 – the highest globally. The refinery is supported by robust logistics infrastructure, including a marine facility capable of handling vessels ranging from gas carriers and chemical tankers to the largest crude carriers (VLCCs) and product ships.

It also houses the world’s largest petcoke gasification facility, designed to operate on both coal and petcoke. This provides significant flexibility in raw material sourcing and enables the company to maximise value from every barrel of crude by converting low-value residues into high-value energy.

RIL reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 10 percent, from Rs. 2,31,535 crores in Q2 FY25 to Rs. 2,54,623 crores in Q2 FY26. Likewise, its net profit increased during the same period from Rs. 19,323 crores to Rs. 22,092 crores, representing a rise of over 14 percent YoY.

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