Reliance Industries shares continue to fall for fourth trading session in row; further tank 8%
Shares of Reliance Industries continued to trade with losses for the fourth consecutive trading session on Thursday, falling further by nearly 8 percent
New Delhi: Shares of Reliance Industries continued to trade with losses for the fourth consecutive trading session on Thursday, falling further by nearly 8 percent.
RIL shares tanked 8 percent to Rs 891 -- its 52-week low -- on the BSE.
At the NSE, it declined 7.87 percent to Rs 892.20 -- its one year low.
A heavy sell-off in the equity market since the past few days, has pulled down RIL's market valuation sharply.
This is the fourth consecutive session of fall for RIL shares which have dropped 19.5 percent till Thursday.
On Wednesday, Tata Consultancy Services went past Reliance Industries Limited to become the most valued Indian firm by market valuation.
TCS continued to maintain lead over RIL in the market valuation chart on Thursday also.
Last week also, Reliance shares came under massive selling pressure amid a plunge in international oil prices.
In just about four months, Reliance Industries market cap has slumped from the highs of Rs 10 lakh crore it hit in November last year. At present, its market valuation is at Rs 5,83,212.61 crore.
Equity markets continued to remain on the weak ground, with the BSE benchmark index plunging 2,155.05 on Thursday.
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)
In last nine trading sessions, Reliance Industries has gained 6.3% from a low of Rs 817.15 touched on 8 September
With just two more trading sessions to go, the de-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) on Wednesday closed with a 11 percent gain over the previous day
The de-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) continued to draw strong demand on day four on Tuesday with an average premium of more than 7 percent over the intrinsic value