Reliance Industries shares rise nearly 3% post Q2 results, erase gains and slip over 2% later

Shares of market heavyweight Reliance Industries (RIL) rose nearly 3 per cent in the opening deals on Monday after the company reported a sharp 46 per cent rise in consolidated net profit at Rs 15,479 crore for the September quarter (Q2) of the financial year 2021-22 (FY22). However, within a few minutes, the stock erased its gains and slipped over 2 per cent.

The stock of the oil-to-telecom behemoth fell as much as 2.17 per cent to Rs 2,570.10 apice on the BSE while on the National Stock Exchange (NSE), it fell 2.18 per cent to Rs 2,570.00 per share. Earlier in the day, it had jumped 2.74 per cent to Rs 2,699 on BSE while on NSE, it gained 2 per cent to Rs 2,680.