Reliance share price falls over 4%, YTD return turns negative; Time for bottom fishing?
Reliance Industries share price plummeted by 4% on Monday, reaching a nine-month low amid heavy selling pressure. This sharp decline has turned Reliance shares’ year-to-date (YTD) returns negative.
During intraday trading on the BSE, RIL stock price dropped by as much as 4.03%, hitting a low of ₹1,285.10 per share, with the company’s market capitalization shrinking to approximately ₹17.40 lakh crore. Reliance stock has now fallen over 20% from its 52-week high of ₹1,608.95 per share (adjusted for a 1:1 bonus), recorded on July 8.
As of November 4, Reliance shares have declined by 0.5% YTD. However, over the past year, Reliance stock has delivered a gain of more than 11%.
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