The RIL shares dipped 1.97% Thursday, and they were traded at Rs 1,396.45 at the BSE. Analysts believe that the imposition of significant tariffs on Russian crude is sure to hit companies like Reliance hard, as they engage in crude oil refining.
Mukesh Ambani-owned Reliance Industries Ltd (RIL) is at the receiving end of the EU sanctions on Russia. The RIL shares dipped 1.97% Thursday and they were traded at Rs 1,396.45 at the BSE. Analysts believe that the imposition of significant tariffs on Russian crude is sure to hit companies like Reliance hard, as they engage in crude oil refining. Talking to Business Today, Deven Choksey said, “The imposition of a significantly large amount of tariff on Russian crude is a concern. Crude oil refining companies like Reliance met with selling pressure in the market, but this may be temporary.”
RIL share slips 2% at BSE
The experts believe the RIL scrip also suffered due to the less-than-expected corporate results in the first quarter of the Financial Year 2024-25. After the media created hype over the possible Q1 result of Reliance Industries, the share market expected too much and when the expectation was not fulfilled, they were disappointed. Choksey said, “I believe that ahead of the June 2025 quarter (Q1 FY26) results, there were expectations built largely because Jio Platforms’ listing announcement would come. Now that the announcement has not come in Q1 FY26 and it is quite possible that in the next AGM, some clarity may emerge in this particular area of activity.”
EU sanctions on Russian oil
The EU announced that it would impose sanctions on the Indian oil refinery of Russian energy giant Rosneft, in addition to lowering the price cap on crude oil. The present price cap of Russian oil is $60 per barrel. One barrel equals about 120 litres.
Reliance: Biggest beneficiary
According to ship-tracking data compiled by Kpler, Moscow supplied almost half of Reliance’s crude imports so far this year. If media reports are to be believed, the process of refining Russian crude into diesel for sales into Europe has put Reliance in the line of fire of the EU’s latest pressure on Moscow.
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