Reliance Industries shares fall 3%; here’s why
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.
Billionaire Mukesh Ambani-led conglomerate is expected to report muted earnings in the first quarter of FY24 due to decline in its oil-to-chemical (O2C) business.
Investors rushed to buy RIL shares amid hope that it would unlock value for shareholders post demerger of Jio Financial Services.
RIL shares gained as much as 2.3% to ₹2,644.30, while the market capitalisation increased by ₹27,468 crore to ₹17.76 lakh crore.
From petrochemicals to petroleum refining and further onto telecom and retail, Mukesh Ambani has built multiple business empires in the last two decades.
On Friday, RIL shares gained 2.7% to hit a high of ₹2,798.15 in the first hour of trade, while its market cap surged to ₹18.90 lakh crore.
Shares of Reliance Industries (RIL) gained as much as 1% in the first hour of the day’s trade after it reported positive results for the four consecutive quarters.