RIL shares slip 6% from record high, what's next?

Shares of Reliance Industries Ltd (RIL) are dragging the market lower today a day after hitting record high. The market heavyweight has slipped  6% from record high as investors booked profit in the current session. The stock of Mukesh Ambani-led conglomerate hit a record high of Rs 1611.20 on Monday. However, RIL shares slipped 3.74% to Rs 1518.30 in early deals on Tuesday. Later, RIL shares closed 4.42% lower at Rs 1507.70. 

Market cap of the firm stood at Rs 20.61 lakh crore mark. RIL stock has gained 25% in a year and risen 11% in three months. 

On the other hand, the RIL stock logged its best returns since 2020 in 2025. RIL stock  rose 29% in 2025, beating 19% gain in 2021, 7.54% in 2022, 1.57% in 2023 and -6% in 2024. The stock clocked 32% returns in 2020. 

Commenting on the correction in the current session, Jigar S Patel from Anand Rathi said,  "Support will be at Rs 1500 and resistance at Rs 1555. A decisive move above the Rs 1555 level may trigger a further upside of Rs 1600. The expected trading range will be between Rs 1500 and Rs 1600 in the short-term."

Motilal Oswal has a price target of Rs 1765 on the RIL stock. 

The brokerage said RIL’s key long-term competitive advantage in battery manufacturing (and across new energy) remains scale, ability to undertake technologically complex projects, and an integrated and unique new energy ecosystem.

Swiss investment bank UBS has a 'Buy' rating on the market heavyweight. UBS has a target price of Rs 1,820 per share on the Mukesh Ambani-led conglomerate.