RIL market value falls Rs 94,000 crore in a day

Mumbai: Shares of Reliance Industries, India’s most valuable company by market value, tumbled 4.4%-the biggest single-day fall in 18 months-even after the firm denied a recent Bloomberg news report that three vessels laden with Russian oil are heading for its Jamnagar refinery. The company, in a statement on X on Tuesday, said, “Reliance Industries’s Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past 3 weeks approximately and is not expecting any Russian crude oil deliveries in January.”

Reliance shares ended at ₹1507.7 on Tuesday. The fall on Tuesday resulted in the company losing nearly ₹94,000 crore in market value.