Reliance Industries shares fall 4% after earnings announcement
Shares of Reliance Industries fell nearly 4 per cent in morning trade on Monday after the company’s June quarter earnings failed to enthuse investors.
The market heavyweight stock declined 3.95 per cent to Rs 2,404 on the BSE, after a weak start early in the trade. At the NSE, it went lower by 3.98 per cent to Rs 2,403.35 apiece.
Fall in Reliance shares were instrumental in dragging down the benchmark indices.
The 30-share BSE benchmark was trading 400.84 points or 0.71 per cent lower at 55,671.39 and the NSE Nifty quoted 109.60 points or 0.66 per cent down at 16,609.85.
Reliance Industries on Friday reported a 46 per cent jump in its June quarter net profit on bumper earnings from oil refining as well as an uptick in telecom and retail businesses.
