FILE PHOTO: Reliance logo is seen in this illustration taken, August 13, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
| Photo Credit:
Dado Ruvic
Reliance Industries Ltd.’s shares are the most oversold they have been in five years, as India’s largest company grapples with headwinds — from a slowdown in its retail business to growing unease over potential US action related to its purchases of Russian crude oil.
The Mukesh Ambani–controlled conglomerate saw its 14-day relative strength index, a key momentum indicator, fall to 24.4 on Tuesday, pushing the stock into territory many traders consider oversold. The signal follows an 11% slide in the oil-to-telecom group’s shares, set for its worst start to a year since 2011. The selloff has erased about $29 billion from the company’s market value so far in 2026.
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Published on January 21, 2026
