Reliance Industries India’s largest company marked a significant drop in its share price and witnessed its stock hit a 52-week low. Over the past eight months Reliance’s stock has declined by more than 23%. The company faced a market cap erosion of nearly Rs 56000 crore making it one of the most substantial single-day declines in recent times.  Reliance Industries Share Decline Reliance Industries stock faced a sharp decline on Monday. According to data from the Bombay Stock Exchange (BSE) by 11:30 AM the companys stock was trading at Rs 1164 down 3% from the previous close of Rs 1199.60. Earlier in the morning when the stock market opened Reliances stock began trading on a positive note at Rs 1209.80. However it soon began falling down leading to significant losses. Stock Hits 52-Week Low The fall was so severe that Reliance’s stock went down to Rs 1156 hitting its 52-week low during the trading session. In contrast the stock had reached a 52-week high of Rs 1608.95 on July 8 this year. This marks a decline of 28.15% from its peak translating to a loss of Rs 452.95 per share. On Monday end of the day the stock was trading at Rs 1174 with decline of 2.17% than previous day close. Rs 56000 Crore Market Cap Loss The sharp decline in Reliance Industries stock price had a major effect on the company’s market capitalization. By the end of Monday’s trading session Reliance’s market cap had dropped from Rs 1623343.45 crore at the end of last week to Rs 1567371.49 crore a loss of Rs 55971.96 crore. Reliance Industries has been a key player in Ambanis business empire and also in India’s business world. However with market dynamics and investor sentiment shifting the company faces challenges in stabilizing its stock performance.