India, April 6 -- Shares of India's largest conglomerate by market value fell over 4 percent in Monday's session, touching a 10-month intraday low and dragging the Nifty 50 index down by approximately 78 points in the process.

The selloff came on the back of two overlapping headwinds that directly threaten the company's oil-to-chemicals earnings, one driven by domestic policy, the other by the sharpest geopolitical disruption in the Middle East in years.

With a market capitalization that slipped below the Rs 18 lakh crore mark, the shares of Reliance Industries were trading at Rs 1,303.70 per share intraday, down over 3.5 percent from its previous closing price of approximately Rs 1,350.50. It is trading at a P/E of 18.76.

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