Reliance Industries said that there is no linkage between the company’s share price movement and the news of the company receiving Russian oil.
In an exchange disclosure, the company said, “ In our view, there is no linkage between the movement in price of equity shares of the Company and captioned news article.”
The company said that it has not announced any price-sensitive information. “Please note that there is no information which has not been announced to the stock exchanges and which should have been announced by the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.” the company said.
No purchase of Russian oil
In a news report, Bloomberg had earlier clarified that three vessels laden with Russian Oil are heading for Reliance Industries Limited’s Jamnagar refinery. The company responded that it has not purchased Russian oil for January delivery.
Reliance Industries stated that Bloomberg has updated its news report, clarifying that the Russian oil Cargo earlier linked to Reliance was to be discharged elsewhere.
Reliance Industries share price movement
Shares of Reliance Industries ended over 4 per cent down on Tuesday, just a day after it hit 52-week high. The blue-chip stock edged lower by 4.42 per cent to end at Rs 1,507.70 on the BSE.
The company’s market valuation eroded by Rs 94,388.99 crore to Rs 20,40,290.90 crore in a single day.
Reliance Industries Q2 FY26 results
The oil-to-chemicals major posted a net profit increase of 9.6% year-on-year of for the second quarter of the current financial year as its core segment recovered. The company’s consolidated net profit came in at Rs 18,165 crore in Q2 FY26, which was higher than the Rs 16,563 crore net profit reported in the same quarter a year ago.
The company’s consolidated revenue came in at Rs 2.55 lakh crore, a rise of 10% YoY, compared with Rs 2.44 lakh crore in the previous quarter and Rs 2.32 lakh crore in the same quarter last year.