Reliance stock falls its most in seven months
The Reliance stock fell its most in seven months on Monday taking with it Rs 1.20 lakh crore of lost shareholder wealth while promoter Mukesh Ambani suffered a massive Rs 61,000 crore erosion in his net worth.
Investors resorted to profit booking amid concerns of expensive valuation and disappointment over the performance of its refining division even as they awaited fresh triggers to re-enter the counter.
The RIL scrip has witnessed an extraordinary run since March — rising almost 172 per cent from its 52-week lows as it mobilised nearly Rs 1.90 lakh crore in its digital services and retail subsidiaries and became a net debt-free firm.
