India's stock market volatility since last Diwali saw 60 stocks lose up to 96%
Reliance Industries is in focus in an infrastructure development.
· ET Stocks, Economic Times Markets
At least 63 stocks with a market capitalisation of over Rs 1,000 crore have lost more than half their value since last Diwali, with some plunging 60-95% amid a broad-based selloff across sectors. Elitecon International was the worst performer, tumbling 96%, followed by Reliance Infrastructure, Kothari Industrial Corporation and Fischer Medical Ventures.
The analysis
Reliance Industries reported Rs 1,000 crore, with movement of 96% and -95% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.4% on the day at ₹1,303.20, and has returned -0.8% over three months. It sits 18% below its 52-week high. The oil & energy sector has moved -4.9% over the same period, so Reliance Industries is running 4.1 points ahead of its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
Market context
- In focus: Reliance Industries (RELIANCE), in Oil & Energy.
- Over three months: Reliance Industries -0.8% against Oil & Energy -4.9% (4.1 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE · Oil & Energy | ₹1,303.20 | -0.4% | +12.0% | -0.8% | -18.2% | 0.2× | — |
Oil & Energy
1M +0.4% · 3M -4.9%
Reliance Industries
Infrastructure
1M -6.4% · 3M -14.9%
Prices as of 4 Nov 2026, 10:42 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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