RIL shares slide nearly 3% on disappointing Q1; fall 12% in 4 sessions
RIL's market cap has eroded by ₹2.27 lakh crore in the last three trading days after hitting all-time high of ₹19.21 lakh crore in intraday trade on July 19.
RIL's market cap has eroded by ₹2.27 lakh crore in the last three trading days after hitting all-time high of ₹19.21 lakh crore in intraday trade on July 19.
Reliance Petroleum Retail has signed a pact to buy the polyester business of Shubhalakshmi Polyesters for ₹1,592 crore.
RIL share price dropped nearly 2% ahead of its 45th AGM today, where Chairman Mukesh Ambani is expected to make some major announcements related to the listing of Jio Platforms and Reliance Retail.
RIL’s Q1 consolidated net profit surges 46.3% YoY to ₹17,955 crore; earnings missed estimates due to higher expenses
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 have been falling for the last six sessions and have plunged 9.5% during the same period.
RIL share price has been falling for the past five sessions and declined 8.4% during this period to hit a three-week low of ₹2,602.40 on the BSE.
Boosted by a stellar gain in RIL share price, Mukesh Ambani’s net worth rose by $1.41 billion to $104 billion as of April 29.
Morgan Stanley has raised its target price on the RIL stock from ₹2,926 apiece to ₹3,253 per share, an upside of almost 20%, with an overweight rating.