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Rs 28,607.45-cr drop in RIL mcap as scrip falls 1%

Rs 28,607.45-cr drop in RIL mcap as scrip falls 1%

Shares of Reliance Industries Ltd (RIL) on Tuesday pared early gains and ended over one per cent lower amid profit-taking at the counter a day after the company announced its March quarter earnings.

The stock advanced 0.85 per cent to Rs2,986.05 during the day on the BSE. However, it failed to carry forward the momentum and ended at Rs2,918.50, down 1.42 per cent. On the NSE, it ended with a loss of 1.35 per cent at Rs2,919.50 after climbing 0.92 per cent to Rs2,987 apiece in intra-day trade. The company’s market valuation declined Rs28,607.45 crore to Rs19,74,566.78 crore. In traded volume terms, 2.73 lakh shares of the company were traded at the BSE and over 73.03 lakh shares at the NSE during the day. Reliance Industries Ltd on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in the core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses.

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