Reliance Industries Faces Market Turmoil with Rs 59,799 Crore Wipeout Reliance
May 12, 2025 | New Delhi
Reliance Industries Ltd. (RIL), led by Mukesh Ambani, faced a sharp setback in the stock market on Friday, May 9, as its share price dropped by 1.93%, closing at Rs 1,377.75. This decline capped a rough trading week for the company, with shares down 3.67% overall. The result: a massive erosion of Rs 59,799 crore in market capitalisation, bringing Reliance’s total valuation down to Rs 18.64 lakh crore.
This market slump also impacted Mukesh Ambani’s personal fortune. According to Forbes, Ambani’s net worth fell to $92.5 billion, positioning him as the 13th richest individual globally. Despite the dip, he continues to hold the title of Asia’s richest person.
Reliance Industries, with a diversified portfolio spanning petrochemicals, oil and gas, telecommunications, and retail, has seen its stock under pressure for some time. The share price is now trading 14.37% below its 52-week high of Rs 1,608.95, which was recorded on July 8, 2024.
The downturn in the company was part of a broader weakness in Indian equities last week. The benchmark BSE SENSEX fell 1.10% during the same period. Eight of the top ten most valued Indian firms saw their combined market value shrink by Rs 1.60 lakh crore. Besides Reliance, other major companies such as HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and ITC also suffered losses. However, Infosys and Hindustan Unilever managed to buck the trend and post gains.
Despite the recent losses, analysts remain cautiously optimistic about the company’s long-term outlook. They cite the group’s diversified business model and ongoing strategic investments in new sectors, including renewable energy and digital platforms, as key growth drivers for the future.
Still, the market turbulence serves as a reminder that even conglomerates like Reliance are not immune to the broader challenges posed by global economic uncertainties.