RIL share price: Rs 80,000 crore wiped out! 40 lakh small investors lose as stock tanks 4%
In its Q4 preview note today, Emkay Global estimated Reliance Industries Limited’s consolidated Ebitda flat quarter-on-quarter (QoQ) at Rs 46,000 crore, while rising 5 per cent year-on-year (YoY).
- Apr 6, 2026,
- Updated Apr 6, 2026 1:17 PM IST
The Mukesh Ambani-led Reliance Industries Ltd (RIL) saw its shares tumbling over 4 per cent in Monday's trade, with its market capitalisation (m-cap) getting eroded in excess of Rs 80,000 crore. The index heavyweight capped upside for Sensex and Nifty, which otherwise edged higher amid cautious optimism over a likely US-Iran deal.
RIL fell 4.4 per cent to Rs 1,291.40 apiece on Monday. The stock topped NSE in terms of cash market turnover at Rs 2,502.99 crore. Its m-cap declined Rs 80,450 crore to Rs 17,47,583.52 crore from Rs 18,28,034.07 crore a day ago. RIL had 40.47 lakh small individual investors as of December 31, 2025, accounting for 6.87 per cent stake. The value of the stake fell Rs 5,526 crore to Rs 1,20,059 crore from Rs 1,25,586 crore a day ago. There was no exchange filing that could suggest the reason behind the fall in shares of India's most-valued firm.
The oil-to-telecom major is yet to announce schedule for its March quarter results. In its Q4 preview note today, Emkay Global estimated Reliance Industries Limited’s consolidated Ebitda flat quarter-on-quarter (QoQ) at Rs 46,000 crore, while rising 5 per cent year-on-year (YoY).
The brokerage expects the oil-to-chemicals (O2C) segment’s Ebitda to decline 10 per cent QoQ to Rs 14,900 crore, citing market dislocation from the Israel-US-Iran war that disrupted physical operations despite a sharp uptick in benchmark O2C deltas. Freight and insurance costs rose sharply, with the shipping halt in the Strait of Hormuz pushing up operating expenses, it noted.
Physical crude markets traded at steep premiums, while the marketing business faced under-recoveries. Diversion of propane from polypropylene to LPG, along with cuts in HP-HT gas supplies and a sharp rise in naphtha prices, further weighed on performance, Emkay Global said.
For telecom business, Emkay expects Reliance Jio to report net subscriber additions of 80 lakh, with ARPU rising 1 per cent to Rs 216 and Ebitda increasing 3 per cent QoQ.
Retail Ebitda is seen rising 4 per cent YoY to Rs 7,000 crore, up 1 per cent QoQ, driven by 8 per cent revenue growth. The impact of the FMCG spin-off, classified under Other Segments, was expected to be reflected in the March quarter.
In the upstream segment, Ebitda was likely to decline 9 per cent QoQ to Rs 4,400 crore due to higher operating costs and an estimated 2 per cent sequential drop in gas production.
At the consolidated level, Emkay estimated adjusted profit after tax (after minority interest) to decline 1 per cent QoQ to Rs 18,500 crore, impacted by higher interest costs and depreciation.
The Mukesh Ambani-led Reliance Industries Ltd (RIL) saw its shares tumbling over 4 per cent in Monday's trade, with its market capitalisation (m-cap) getting eroded in excess of Rs 80,000 crore. The index heavyweight capped upside for Sensex and Nifty, which otherwise edged higher amid cautious optimism over a likely US-Iran deal.
RIL fell 4.4 per cent to Rs 1,291.40 apiece on Monday. The stock topped NSE in terms of cash market turnover at Rs 2,502.99 crore. Its m-cap declined Rs 80,450 crore to Rs 17,47,583.52 crore from Rs 18,28,034.07 crore a day ago. RIL had 40.47 lakh small individual investors as of December 31, 2025, accounting for 6.87 per cent stake. The value of the stake fell Rs 5,526 crore to Rs 1,20,059 crore from Rs 1,25,586 crore a day ago. There was no exchange filing that could suggest the reason behind the fall in shares of India's most-valued firm.
The oil-to-telecom major is yet to announce schedule for its March quarter results. In its Q4 preview note today, Emkay Global estimated Reliance Industries Limited’s consolidated Ebitda flat quarter-on-quarter (QoQ) at Rs 46,000 crore, while rising 5 per cent year-on-year (YoY).
The brokerage expects the oil-to-chemicals (O2C) segment’s Ebitda to decline 10 per cent QoQ to Rs 14,900 crore, citing market dislocation from the Israel-US-Iran war that disrupted physical operations despite a sharp uptick in benchmark O2C deltas. Freight and insurance costs rose sharply, with the shipping halt in the Strait of Hormuz pushing up operating expenses, it noted.
Physical crude markets traded at steep premiums, while the marketing business faced under-recoveries. Diversion of propane from polypropylene to LPG, along with cuts in HP-HT gas supplies and a sharp rise in naphtha prices, further weighed on performance, Emkay Global said.
For telecom business, Emkay expects Reliance Jio to report net subscriber additions of 80 lakh, with ARPU rising 1 per cent to Rs 216 and Ebitda increasing 3 per cent QoQ.
Retail Ebitda is seen rising 4 per cent YoY to Rs 7,000 crore, up 1 per cent QoQ, driven by 8 per cent revenue growth. The impact of the FMCG spin-off, classified under Other Segments, was expected to be reflected in the March quarter.
In the upstream segment, Ebitda was likely to decline 9 per cent QoQ to Rs 4,400 crore due to higher operating costs and an estimated 2 per cent sequential drop in gas production.
At the consolidated level, Emkay estimated adjusted profit after tax (after minority interest) to decline 1 per cent QoQ to Rs 18,500 crore, impacted by higher interest costs and depreciation.