Rs 88,000 crore mcap wiped out as RIL falls nearly 5% in five days - Weakest Nifty stock, says Anil Singhvi

Shares of Reliance Industries Ltd (RIL) declined 4.41 per cent over the past five sessions, making it the weakest stock on the Nifty during the period. On Wednesday, the stock was trading at Rs 1,398.30, down 0.45 per cent for the day.

With the fall, Reliance Industries’ market capitalisation declined by about Rs 88,000 crore over the past five days. The company’s market value currently stands at Rs 18.92 lakh crore.

Over the past month, the stock has fallen 11.25 per cent. RIL has failed to close above the Rs 1,610 level since July 8, 2024. From its life high of Rs 1,611 on January 5, 2026, the stock slipped to Rs 1,373 by January 21, a decline of 238 points, or about 15 per cent, in 12 days.

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Anil Singhvi's Views on RIL Stock

Market expert Anil Singhvi said Reliance Industries has emerged as the weakest stock on the Nifty in recent sessions amid sustained selling pressure. He said the stock has failed to regain key levels and has remained below Rs 1,610 since July 2024.

Singhvi said the sharp fall from the life high of Rs 1,611 to recent lows reflects continued weakness in the near term. He added that while earnings in energy and digital businesses remain supportive, pressure in the retail segment and broader market sentiment are weighing on the stock.

He advised investors to remain cautious in the short term and said any recovery would depend on the stock holding key support levels and improvement in overall market conditions.

Reliance Industries Share Price Target

Following the recent decline and December quarter results, several global brokerages cut their target prices on the stock while maintaining positive ratings.

Goldman Sachs maintained a ‘Buy’ rating and trimmed its target to Rs 1,820 from Rs 1,835. The brokerage said retail performance was weaker, while O2C EBITDA grew on the back of strong refining margins. It added that Jio’s wireless revenue rose 8 per cent year-on-year and noted progress in the company’s solar manufacturing plans.

UBS maintained a ‘Buy’ rating and cut its target to Rs 1,790 from Rs 1,820.

Morgan Stanley retained an ‘Overweight’ rating and lowered its target to Rs 1,803 from Rs 1,847. It said weak earnings quality, particularly in retail, was largely priced in, while energy and AI-related catalysts remained supportive.

JP Morgan maintained an ‘Overweight’ rating and reduced its target to Rs 1,675 from Rs 1,727. It said the December quarter profit was broadly in line, though EBITDA was impacted by higher expenses. The brokerage highlighted improved relative valuations after the recent correction.

Citi maintained a ‘Buy’ rating and cut its target to Rs 1,815 from Rs 1,860. It said weaker retail performance weighed on earnings, while O2C and Jio remained steady. The brokerage noted that softer earnings could weigh on the stock in the near term.

Reliance Q3 FY26 Results

Reliance Industries Ltd reported an almost flat consolidated net profit of Rs 18,645 crore for the October–December quarter of FY26, as weakness in gas production and the retail business offset gains in energy and digital segments.

The country’s largest conglomerate had posted a net profit of Rs 18,540 crore in the same quarter last year. Earnings per share stood at Rs 13.78, compared with Rs 13.70 a year ago.

Revenue from operations rose to Rs 2.69 lakh crore from Rs 2.43 lakh crore in the year-ago period. EBITDA increased 6.1 per cent year-on-year to Rs 48,003 crore.

The company said earnings growth in the retail business remained muted due to GST rate rationalisation, demerger of the consumer products business and festive demand getting split across two quarters.

Retail EBITDA rose 1.3 per cent, while profit increased 2.7 per cent to Rs 3,551 crore. The company added 431 stores during the quarter and reported a daily order run rate of 1.6 million on quick commerce.

Net debt stood largely unchanged at Rs 1.17 lakh crore as of December 2025. Capital expenditure during the quarter was Rs 33,826 crore, funded by cash profit of Rs 41,303 crore. The company said capex was driven by investments in O2C, new energy, and the expansion of Jio and retail networks.