RIL stock slips nearly 3% on lukewarm Q4 results

RIL stock slips nearly 3% on lukewarm Q4 results

Mumbai: Shares of corporate major Reliance Industries (RIL) fell by nearly 3% in morning trade on the Bombay Stock Exchange (BSE) on Monday following the company’s announcement of 14% growth in fourth quarter net profit to Rs5,376 crore, which was lower than the expectations on Dalal Street.

The scrip of the country’s most valued firm by market capitalization slipped by 2.86% to touch an early low of Rs1,010.15 on the BSE.

In a similar fashion, the stock went down by 2.93% to a low of Rs1,010.10 on the National Stock Exchange (NSE).

On the volume front, over 8 lakh shares of the company were traded within the first few minutes of trade.

Reliance Industries had last week reported a 14% increase in net profit to Rs5,376 crore for the fourth quarter of the past fiscal as natural gas production from its mainstay field declined.

Meanwhile, the BSE’s 30-share Sensex index was trading at 19,630.29 at 09:45 am, up 28.06 points.