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Why RIL stock is on roller-coaster ride

Market behemoth Reliance Industries (RIL) has been on a roller-coaster ride for over the past couple of weeks. The stock was on a downslide since mid-December 2019 when it touched its peak of ₹1,610 - this was due to, among other factors, market weakness and worries about the impact of the coronavirus spread on the business.

The troubles for the stock worsened earlier this month when the OPEC+ oil output deal unraveled and the Saudis launched an all-out price war to gain market share. The RIL stock lost about 12 per cent on March 9, close at ₹1,114.

This ...

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