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| Reliance in red on fourth straight fall in net |
| BS Reporter / Mumbai Oct 30, 2009, 16:00 IST |
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The stock slipped to a low of Rs 1,921 and is now at 1,931, down 4% from the previous close. The counter clocked volumes of 1.5 million shares as compared to the two-week daily average traded volumes of 777,414 shares on the BSE.
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(Updated at 1025hrs)
Reliance Industries has slipped around 2% following a decline in Q2 profits.
The stock opened at Rs 2,010, touched a high of Rs 2,020 and slipped to a low of Rs 1,966. The scrip is now trading at Rs 1,972, down 1.5% from the previous close. The counter has clocked volumes of 229,481 shares on the BSE.
Reliance Industries (RIL), India's largest private sector company, registered a fourth straight decline in quarterly profits on shrinking refining margins and reduced exports due to a global economic downturn.
The company posted a 6.4% fall in net profit at Rs 3,852 crore for the second quarter (July-September) of this year compared to Rs 4,116 crore in the year-ago period.
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