RIL shares drop 4% amid EU sanctions on Russian oil; is this a 'buy-the-dip' opportunity?

Shares of Reliance Industries Ltd (RIL) declined around 4 per cent in Monday's trading session as the oil-to-retail giant came under pressure following the European Union's newly imposed sanctions on Russian oil. RIL has stated that it will assess the implications of the latest round of sanctions imposed by the EU.

The stock fell 3.64 per cent to hit an intraday low of Rs 1,423.05. Despite the drop, it is still up nearly 17 per cent on a year-to-date (YTD) basis.

On the earnings front, Mukesh Ambani-led RIL reported a 78 per cent year-on-year (YoY) surge in consolidated net profit to Rs 26,994 crore for the June 2025 quarter, compared to Rs 15,138 crore in the same period last year. The strong performance was driven by robust growth across its retail, telecom, and oil-to-chemicals (O2C) segments.

Revenue for the quarter rose 5.26 per cent YoY to Rs 2,48,660 crore, up from Rs 2,36,217 crore in the corresponding quarter last year.

A market expert suggested that investors may consider accumulating the stock on dips, while another noted that the overall uptrend remains intact despite interim corrections.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that RIL could face headwinds due to the EU's newly imposed sanctions on Russian oil. However, he recommended that investors consider accumulating the stock on dips.

According to Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, "Reliance has witnessed some profit booking following its recent rally. After the quarterly results, the stock entered a previous consolidation zone but continues to maintain its overall uptrend, despite interim corrections. Support is seen around Rs 1,400, which is expected to limit further downsides. On the upside, a decisive move above the Rs 1,480–1,500 range could reignite the stock's upward momentum."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, said support lies at Rs 1,420 and resistance at Rs 1,475. A sustained move above Rs 1,475 could push the stock towards Rs 1,500, with the near-term trading range seen between Rs 1,400 and Rs 1,500.

As of March 2025, promoters held a 50.11 per cent stake in the company.