New Delhi, March 27 -- Shares of Reliance Industries Ltd (RIL), the country's most valuable company by market capitalisation, came under severe selling pressure on Friday, 27 March, slipping 4.60% to the day's low of Rs.1,348 apiece and ending a two-day rally.

Friday's drop also marked the biggest single-day sell-off the stock has seen since June 2024, wiping out nearly Rs.80,000 crore in market capitalisation. The sell-off in Mukesh Ambani-led company's stock came after the government reintroduced windfall taxes on diesel and aviation turbine fuel (ATF) exports.

In a bid to ease pressure from rising crude oil prices-driven by the ongoing US-Israel-Iran conflict-the government on Friday cut excise duties on fuels, reducing petrol duty t...