RIL shares extend slide, down 9% from 52-week high; add now or wait?

Shares of Reliance Industries Ltd (RIL) continued their losing run for the fourth consecutive session on Tuesday. The stock ended 1.08 per cent lower at Rs 1,412.80, marking a decline of 8.91 per cent from its one-year high of Rs 1,551, which it hit earlier this month on July 9.

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.

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. 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.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, highlighted that RIL may face headwinds from the EU's newly imposed sanctions on Russian oil. Despite this, he advised investors to consider accumulating the stock during dips.

In a conversation with Business Today, Arpit Beriwal, Manager – Derivatives Analyst (Equity Research) at Motilal Oswal Financial Services, stated, "After a sharp rally from Rs 1,300 to Rs 1,500 over the past couple of months, the stock has started correcting in the July series, falling from Rs 1,540 to Rs 1,420."

"On the weekly charts, the stock seems to be forming a base in the Rs 1,380–1,400 range. However, the daily charts still reflect a pattern of lower highs, suggesting that the upside remains restricted. Reliance has also been one of the key drags on the Nifty in recent sessions. The Rs 1,444 mark will act as an immediate resistance and as long as the stock stays below this level, further weakness towards Rs 1,380 is likely. The Rs 1,380–1,385 zone offers strong support. A sustained close above Rs 1,444 is essential to indicate any meaningful recovery; until then, an upmove appears unlikely," he added.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "Reliance has seen some profit booking after its recent rally. The stock has entered a previous consolidation zone but still holds its overall uptrend despite interim corrections. Support is visible around Rs 1,400, which may limit further downside. On the higher side, a decisive move past the Rs 1,480–1,500 zone could revive upward momentum."

As of June 2025, promoters held a 50.07 per cent stake in the company.