Reliance set for worst week in nearly four months as oil risks weigh

Bharat Petroleum

11/09/2026 08:44

Sept 11 (Reuters) - ** Shares of India's Reliance Industries RELI.NS fell nearly 4.8% this week, marking its worst weekly drop in nearly four months
** Oil-linked stocks remain under pressure as the war in Iran drags into its seventh month, disrupting trade in the Strait of Hormuz, passage for one fifth of global oil supplies
** Oil prices are on track to end the week above $100 a barrel for the first time since mid-May as attacks increase along key shipping routes in the Middle East 
** Reliance closed at 1274 rupees ($13.32) on Thursday, down 18.8% since the start of the year, while other refinery stocks such as Indian Oil IOC.NS and Bharat Petroleum BPCL.NS were down ~19% and 21% respectively
** 28 of 29 brokerages rate Reliance "buy" or higher and one "sell"; their median PT is 1690 rupees.  

($1 = 95.6700 Indian rupees)

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))