Stocks

Reliance Industries shares continue to fall; further tank 8 per cent

PTI New Delhi | Updated on March 19, 2020 Published on March 19, 2020

Shares of Reliance Industries continued to trade with losses for the fourth consecutive trading session on Thursday, falling further by nearly 8 per cent.

RIL shares tanked 8 per cent to ₹891 -- its 52-week low -- on the BSE.

At the NSE, it declined 7.87 per cent to ₹892.20 -- its one year low.

A heavy sell-off in the equity market since 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 per cent 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 market valuation chart on Thursday also.

Last week also, Reliance shares came under massive selling pressure amid plunge in international oil prices.

In just about four months, Reliance Industries market cap has slumped from the highs of ₹10 lakh crore it hit in November last year. At present, its market valuation is at ₹ 5,83,212.61 crore.

Equity markets continued to remain on the weak ground, with BSE benchmark index plunging 2,155.05 on Thursday.

Published on March 19, 2020
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